Chartbook: Chart USD/CHF: Choppy trade giving way to fresh tests higher in the coming weeks

Anticipated gains failed to make much headway beyond congestion resistance 0.8000.

Subsequent selling interest gave way to consolidation above 0.7750, before bouncing back to pressure 0.8000.

Rising weekly stochastics and the positive weekly Tension Indicator highlight an improvement in sentiment and room for continuation of January gains towards further congestion around 0.8100.

Initial tests could give way to consolidation within congestion from mid-July 2025, before further gains are seen.

A close above 0.8100 will open up the 0.8220 multi-month Fibonacci retracement. But by-then overbought weekly stochastics could limit any initial tests in profit-taking/consolidation.

Meanwhile, support is raised to congestion around 0.77750.

Rising monthly charts should limit any retracement in fresh consolidation above here.

However, a break, if seen, will add weight to sentiment and open up critical support at the 0.7600 current year low of 28 January, where rising monthly studies should prompt renewed consolidation.

Longer-term multi-month charts are mixed/negative,

pointing to room for fresh losses in later months.

But a close below 0.7600 is needed to confirm continuation of December 2016 losses towards the 0.7065 year low of August 2011.