Published: 2025-07-25T08:47:31.000Z
Chart USD/CHF Update: Higher in range
Senior Technical Strategist
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Cautious trade has given way to a drift higher
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8170 | * | 50% ret of May-Jul fall | S1 | 0.7900 | congestion | ||
| R3 | 0.8100 | * | cong, 38.2% ret | S2 | 0.7870~ | ** | 1 Jul YTD low | |
| R2 | 0.8000 | ** | congestion | S3 | 0.7850 | ** | 76.4% ret of 2011-2016 rally | |
| R1 | 0.7950 | minor congestion | S4 | 0.7800 | congestion |
Asterisk denotes strength of level
09:30 BST - Cautious trade has given way to a drift higher, with prices currently balanced around minor congestion at 0.7950. Above here is congestion around 0.8000. But already overbought intraday studies and mixed daily and weekly charts are expected to limit any initial tests in consolidation. A close above here, however, will improve sentiment and open up a test of strong resistance at 0.8100. Meanwhile, support remains at congestion around 0.7900 and should underpin any immediate tests lower.