Published: 2025-09-02T08:18:52.000Z
Chart USD/CHF Update: Higher in range
Senior Technical Strategist
-
Cautious trade following the shallow tests below congestion support at 0.8000 has given way to a sharp bounce
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8170 | * | 1 Aug (w) high, 50% ret | S1 | 0.8000 | ** | congestion | |
| R3 | 0.8132 | 11 Aug (w) high | S2 | 0.7900 | congestion | |||
| R2 | 0.8100 | * | congestion | S3 | 0.7872 | ** | 1 Jul YTD low | |
| R1 | 0.8050 | break level | S4 | 0.7850 | ** | 76.4% ret of 2011-2016 rally |
Asterisk denotes strength of level
09:10 BST - Cautious trade following the shallow tests below congestion support at 0.8000 has given way to a sharp bounce, with prices currently trading around 0.8035. Intraday studies are rising and oversold daily stochastics are unwinding, highlighting room for a test of resistance at 0.8050. However, the negative daily Tension Indicator and mixed weekly charts are expected to limit any immediate break in renewed selling interest beneath congestion resistance at 0.8100. Meanwhile, a close below 0.8000 would add weight to sentiment and extend August losses towards further congestion around 0.7900.