Published: 2024-11-05T09:05:32.000Z
Chart USD/CHF Update: Leaning lower
Senior Technical Strategist
-
Little change, as prices extend consolidation beneath resistance at the 0.8650 break leve
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8800 | ** | break level, 50% ret | S1 | 0.8600 | ** | congestion | |
| R3 | 0.8748 | ** | 15 Aug (w) high | S2 | 0.8550 | * | congestion | |
| R2 | 0.8700 | * | 38.2% ret of May-Sep fall | S3 | 0.8529 | 8 Oct (w) low | ||
| R1 | 0.8650 | * | break level | S4 | 0.8500 | congestion |
Asterisk denotes strength of level
08:55 GMT - Little change, as prices extend consolidation beneath resistance at the 0.8650 break level. Intraday studies have turned down and daily readings are also under pressure, highlighting room for a pullback towards congestion support at 0.8600. However, mixed/positive weekly charts could limit any initial tests in fresh consolidation. Meanwhile, a close back above 0.8650, if seen, would turn sentiment neutral and give way to fresh consolidation beneath strong resistance at 0.8700.