Chart USD/CHF Update: Under pressure
Cautious trade has given way to anticipated losses
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8100 | ** | break level | S1 | 0.7900 | * | congestion | |
| R3 | 0.8050 | break level | S2 | 0.7850 | ** | 76.4% ret of 2011-2016 rally | ||
| R2 | 0.8000 | ** | congestion | S3 | 0.7830~ | ** | 17 Sep 2025 (y) low | |
| R1 | 0.7950 | * | congestion | S4 | 0.7800 | * | figure |
Asterisk denotes strength of level
11:50 GMT - Cautious trade has given way to anticipated losses, with sharp selling interest prompting a swift fall to congestion support at 0.7900. Daily studies have turned down and broader weekly charts have turned mixed/negative, highlighting room for still further losses in the coming sessions. A break below 0.7900 will open up critical support at the 0.7850 Fibonacci retracement and the 0.7830~ year low of 17 September 2025. A close beneath here will add weight to sentiment and extend December 2016 losses initially to 0.7800. Meanwhile, resistance is lowered to congestion around 0.7950. A close above here, if seen, will help to stabilise price action and prompt consolidation beneath here congestion around 0.8000.