Chart EUR/CHF Update: Immediate gains to remain limited
Cautious trade is giving way to a drift higher, as intraday studies improve and daily stochastics turn positive
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9455 | * | August 2025 (m) high, cong | S1 | 0.9350 | * | break level | |
| R3 | 0.9410~ | ** | 14 Aug YTD high | S2 | 0.9300 | ** | congestion | |
| R2 | 0.9400 | * | congestion | S3 | 0.9290 | * | 38.2% ret of May-Aug rally | |
| R1 | 0.9375 | congestion | S4 | 0.9250/55 | ** | congestion; 50% ret |
Asterisk denotes strength of level
10:50 BST - Cautious trade is giving way to a drift higher, as intraday studies improve and daily stochastics turn positive, with prices currently testing levels just above congestion resistance at 0.9375. A break will open up strong resistance at congestion around 0.9400 and the 0.9410~ current year high of 14 August. But the bearish daily Tension Indicator and mixed/negative weekly charts should limit any initial tests in consolidation. A close above here, however, will improve sentiment and extend March gains towards 0.9455.
Following cautious trade, fresh losses are looked for. A later break below support at 0.9350 will help to stabilise price action. But a further close below the 0.9290 Fibonacci retracement and congestion around 0.9300 will add weight to sentiment and extend mid-August losses towards 0.9250/55.