Published: 2026-05-05T08:30:42.000Z
Chart USD/CHF Update: Cautious trade
-
The anticipated test below congestion support at 0.7800 has bounced from above the 0.7770 Fibonacci retracement
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8000 | ** | break level | S1 | 0.7800 | * | congestion | |
| R3 | 0.7950 | * | congestion | S2 | 0.7770 | ** | 61.8% ret of Jan-Mar rally | |
| R2 | 0.7900 | ** | congestion | S3 | 0.7750 | * | congestion | |
| R1 | 0.7850 | * | congestion | S4 | 0.7700/10 | ** | congestion; 76.4% ret |
Asterisk denotes strength of level
09:10 BST - The anticipated test below congestion support at 0.7800 has bounced from above the 0.7770 Fibonacci retracement, with prices currently balanced in cautious trade beneath congestion resistance at 0.7850. The daily Tension Indicator has ticked higher, suggesting room for a test above here. But flat daily stochastics and mixed weekly charts should limit scope in consolidation beneath further congestion around 0.7900. Meanwhile, support remains within the 0.7770 - 0.7800 range. A close beneath here would turn sentiment negative and extend late-March losses below 0.7750 towards 0.7700/10.