Published: 2024-12-05T06:58:01.000Z
Chart EUR/CHF Update: Extend consolidation at the .9300 level
Technical Analyst
1
Extending consolidation around the .9300 level after bounce attempt was checked at the .9330/.9350 congestion area
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9500 | * | congestion | S1 | 0.9269 | 26 Nov low | ||
| R3 | 0.9445/50 | * | 1 Nov high, congestion | S2 | 0.9254 | ** | Dec 2023 year low | |
| R2 | 0.9400 | ** | congestion | S3 | 0.9210 | * | Aug low | |
| R1 | 0.9330/50 | * | congestion | S4 | 0.9202 | ** | 22 Nov YTD low |
Asterisk denotes strength of level
06:50 GMT - Extending consolidation around the .9300 level after bounce attempt was checked at the .9330/.9350 congestion area. Would need to clear this to extend gains from the .9202, 22 November all-time low to the strong resistance at the .9400/.9445 area. However, negative daily and weekly studies suggest corrective gains giving way to renewed selling pressure later for retest of the .9269 and .9254 support. Break below these will open up scope for retest of the critical support at the .9210/.9202, August and November lows.