Published: 2025-04-07T08:16:27.000Z
Chart USD/CHF Update: Prices remain under pressure
Senior Technical Strategist
1
Overnight tests higher has not been sustained
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8800 | ** | congestion | S1 | 0.8500 | ** | congestion | |
| R3 | 0.8757 | ** | 10 Mar (m) low | S2 | 0.8450 | * | congestion | |
| R2 | 0.8650 | ** | congestion | S3 | 0.8400 | ** | congestion | |
| R1 | 0.8600 | * | congestion | S4 | 0.8330 | ** | Dec 2023 (y) low |
Asterisk denotes strength of level
09:05 BST - Overnight tests higher has not been sustained, with steady selling interest appearing just beneath congestion resistance at 0.8600. Prices are currently trading just below congestion support at 0.8500, but daily readings continue to fall and broader weekly charts are negative, highlighting room for continuation down to congestion support at 0.8450. A break beneath here will add weight to already bearish price action and extend January losses towards 0.8400. Meanwhile, an unexpected close above 0.8600 would help to stabilise price action and prompt consolidation beneath further congestion around 0.8650.