Published: 2025-01-22T09:20:40.000Z
Chart USD/CHF Update: Under pressure
Senior Technical Strategist
1
Little change, as mixed intraday studies keep near-term sentiment cautious
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9224 | ** | 1 May 2024 (y) high | S1 | 0.9050 | * | congestion | |
| R3 | 0.9200 | * | cong, 13 Jan YTD high | S2 | 0.9000 | ** | congestion | |
| R2 | 0.9150 | * | congestion tops | S3 | 0.8965 | ** | 50% ret of Dec-Jan rally | |
| R1 | 0.9100 | ** | break level | S4 | 0.8900/10 | ** | congestion; 61.8% ret |
Asterisk denotes strength of level
09:10 GMT - Little change, as mixed intraday studies keep near-term sentiment cautious and extend consolidation around congestion support at 0.9050. Daily readings continue to point lower and overbought weekly stochastics are unwinding, highlighting a deterioration in sentiment and room for fresh losses in the coming sessions. A break below 0.9050 will add weight to already negative sentiment and extend January losses towards congestion around 0.9000. Beneath here is the 0.8965 Fibonacci retracement. Meanwhile, resistance remains at the 0.9100 break level and is expected to cap any immediate tests higher.