Published: 2025-04-24T09:12:41.000Z
Chart USD/CHF Update: Consolidating test of 0.8300 - daily studies rising
Senior Technical Strategist
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Anticipated gains have reached congestion resistance at 0.8300
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8500 | ** | congestion | S1 | 0.8200 | minor congestion | ||
| R3 | 0.8480 | ** | 38.2% ret of Jan-Apr fall | S2 | 0.8100 | minor congestion | ||
| R2 | 0.8400 | * | Aug-Sep 2024 range lows | S3 | 0.8038 | ** | 21 Apr YTD low | |
| R1 | 0.8300 | ** | congestion | S4 | 0.8000 | ** | figure |
Asterisk denotes strength of level
09:55 BST - Anticipated gains have reached congestion resistance at 0.8300, where unwinding overbought intraday studies are prompting a short-term pullback. Daily readings continue to track higher, however, suggesting room for renewed gains in the coming sessions. A break above 0.8300 will open up 0.8400. But mixed/negative weekly charts are expected to limit any further gains in profit-taking towards the 0.8480 Fibonacci retracement. Meanwhile, support remains at 0.8200 and should underpin any immediate setbacks.