Chart EUR/CHF Update: Limited tests higher
The anticipated test of congestion support at 0.9375 has given way to a bounce
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9500 | * | congestion | S1 | 0.9375 | congestion | ||
| R3 | 0.9455 | * | 50% ret of 2024-2026 fall | S2 | 0.9350 | * | break level | |
| R2 | 0.9435 | * | 2 Sep YTD high | S3 | 0.9300/07 | ** | cong; 19-20 Aug (w) low | |
| R1 | 0.9400 | * | congestion | S4 | 0.9250 | * | congestion |
Asterisk denotes strength of level
10:55 BST - The anticipated test of congestion support at 0.9375 has given way to a bounce, as oversold intraday studies unwind, with steady gains currntly pressuring congestion resistance at 0.9400. A test above here cannot be ruled out. But mixed/negative daily readings and unwinding overbought weekly stochastics should limit scope in renewed selling interest/consolidation beneath critical resistance at the 0.9435 current year high of 2 September.
Following cautious/corrective trade, fresh losses are looked for. A later break below 0.9375 will open up 0.9350. A further close beneath here will add weight to sentiment and put focus on strong support at 0.9300/07.