Published: 2025-07-31T08:46:04.000Z
Chart USD/CHF Update: Consolidating gains - studies rising
Senior Technical Strategist
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Cautious trade has given way to anticipated gains
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8240 | ** | 61.8% ret of May-Jul fall | S1 | 0.8100 | * | congestion | |
| R3 | 0.8200 | ** | congestion | S2 | 0.8065 | * | 17 Jul (w) high | |
| R2 | 0.8170 | * | 50% ret of May-Jul fall | S3 | 0.8000 | ** | congestion | |
| R1 | 0.8150 | 30 Jul high | S4 | 0.7900 | congestion |
Asterisk denotes strength of level
09:30 BST - Cautious trade has given way to anticipated gains, with prices reaching 0.8150 before settling back as intraday studies unwind negative divergence. Overbought daily stochastics are also flattening, suggesting potential for a test of congestion support at 0.8100. But the rising daily Tension Indicator and positive weekly charts should prompt renewed buying interest towards here. Following cautious trade, fresh gains are looked for. A later close above resistance at the 0.8170 Fibonacci retracement will improve sentiment and extend July gains towards congestion around 0.8200. Still higher is the 0.8240 retracement.