Published: 2025-06-11T10:21:06.000Z
Chart EUR/CHF Update: Extending gains
Senior Technical Strategist
-
Cautious trade has given way to a test of congestion resistance at 0.9400
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9555 | ** | 76.4% ret of Mar-Apr fall | S1 | 0.9350 | ** | congestion | |
| R3 | 0.9490/00 | ** | 61.8% ret; congestion | S2 | 0.9300 | ** | congestion | |
| R2 | 0.9435 | * | 50% ret of Mar-Apr fall | S3 | 0.9260 | break level | ||
| R1 | 0.9400 | * | congestion | S4 | 0.9212 | ** | 11 Apr YTD low |
Asterisk denotes strength of level
10:55 BST - Cautious trade has given way to a test of congestion resistance at 0.9400, where overbought intraday studies are prompting fresh consolidation. Daily readings are positive and broader weekly charts are improving, highlighting room for a break above here and extension of May gains towards the 0.9435 Fibonacci retracement. Overbought daily stochastics, however, could limit any initial tests in consolidation, before prices extend higher. Meanwhile, support remains at congestion around 0.9350 and should underpin any immediate setbacks.