Published: 2025-03-07T09:33:31.000Z
Chart EUR/CHF Update: Under pressure
Senior Technical Strategist
1
Sharp selling interest is giving way to anticipated consolidation
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9700 | ** | congestion | S1 | 0.9517 | ** | 24 Jan (m) high | |
| R3 | 0.9650 | * | break level | S2 | 0.9500 | ** | break level | |
| R2 | 0.9635 | ** | 76.4% ret of Jul-Nov fall | S3 | 0.9450 | * | break level | |
| R1 | 0.9600 | ** | congestion | S4 | 0.9400 | ** | congestion |
Asterisk denotes strength of level
09:20 GMT - Sharp selling interest is giving way to anticipated consolidation above support at the 0.9517 monthly high of 24 January and 0.9500. However, intraday studies continue to track lower and overbought daily stochastics are unwinding, suggesting room for further losses in the coming sessions. A break beneath here will open up support at 0.9450. But the rising daily Tension Indicator and mixed/positive weekly charts should limit any initial tests in fresh consolidation. Meanwhile, resistance remains at congestion around 0.9600 and should cap any immediate tests higher.