Chart USD/CHF Update: Turning away from fresh year high
Consolidation following the pullback from the 0.8385~ current year high of 1 October is extending
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8400 | ** | 50% ret of 2025-2026 fall | S1 | 0.8250 | * | congestion | |
| R3 | 0.8385~ | * | 1 Oct YTD high | S2 | 0.8200 | * | congestion | |
| R2 | 0.8350 | * | late-May 25 (w) high | S3 | 0.8150 | congestion | ||
| R1 | 0.8300 | congestion | S4 | 0.8100 | ** | congestion |
Asterisk denotes strength of level
09:45 BST - Consolidation following the pullback from the 0.8385~ current year high of 1 October is extending, as intraday studies remain under pressure, with the break below 0.8300 adding weight to sentiment. Daily stochastics are unwinding overbought areas and the flat daily Tension Indicator is turning down, highlighting a deterioration in sentiment and room for a test of congestion support at 0.8250. However, rising weekly charts should limit any deeper losses in renewed buying interest/consolidation above further congestion around 0.8200.
Meanwhile, a close back above congestion resistance at 0.8300 will help to stabilise price action. But a further close above 0.8385 and the 0.8400 Fibonacci retracement is needed to turn sentiment positive and confirm continuation of January gains.