Chart EUR/CHF Update: Consolidating - background studies improving
Little change, as prices extend cautious trade above congestion support at 0.9400
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9550 | * | congestion | S1 | 0.9400 | * | congestion | |
| R3 | 0.9500 | * | congestion | S2 | 0.9375 | congestion | ||
| R2 | 0.9455 | * | 50% ret of 2024-2026 fall | S3 | 0.9350 | * | break level | |
| R1 | 0.9435 | * | 2 Sep YTD high | S4 | 0.9300/07 | ** | cong; 19-20 Aug (w) low |
Asterisk denotes strength of level
11:40 BST - Little change, as prices extend cautious trade above congestion support at 0.9400. Daily readings are mixed, suggesting a cautious tone and room for further range trade. But broader weekly charts continue to improve, highlighting room for fresh gains in the coming sessions towards critical resistance at the 0.9435 current year high of 2 September. However, overbought weekly stochastics could limit any initial tests in consolidation, before a later break extends gains from the 0.8980 current year low of 9 March towards the 0.9455 Fibonacci retracement.
Meanwhile, support remains at congestion around 0.9400. A close beneath here, if seen, should give way to fresh consolidation above 0.9350.