Chart EUR/CHF Update: Prices remain under pressure
Anticipated losses have reached strong support at congestion around 0.9300 and the 0.9310 Fibonacci retracement
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9500 | ** | break level | S1 | 0.9300/10 | ** | congestion; 76.4% ret | |
| R3 | 0.9450 | * | break level | S2 | 0.9275 | * | congestion | |
| R2 | 0.9400 | * | congestion | S3 | 0.9253 | * | 6 Dec (m) low | |
| R1 | 0.9350 | ** | congestion | S4 | 0.9200/02 | ** | figure; Aug 2024 all-time low |
Asterisk denotes strength of level
09:20 BST - Anticipated losses have reached strong support at congestion around 0.9300 and the 0.9310 Fibonacci retracement, before bouncing sharply into choppy trade around congestion resistance at 0.9350. Intraday studies are falling and daily readings are also under pressure, highlighting room for fresh losses in the coming sessions. A break back below 0.9300/10 will add weight to sentiment and open up congestion around 0.9275. However, bearish weekly charts highlight room for continuation towards critical support at 0.9200/02. Meanwhile, any fresh tests above 0.9350 are expected to meet renewed selling interest beneath further congestion around 0.9400.