Chart EUR/CHF Update: Lower in CHF-driven trade
Cautious trade has given way to a break below 0.9200 in CHF-driven trade
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9267 | ** | 31 Mar (m) high | S1 | 0.9180 | ** | congestion | |
| R3 | 0.9250 | ** | congestion | S2 | 0.9150 | ** | congestion | |
| R2 | 0.9230 | congestion | S3 | 0.9120 | intraday break level | |||
| R1 | 0.9200 | ** | break level | S4 | 0.9100 | ** | break level |
Asterisk denotes strength of level
10:40 BST - Cautious trade has given way to a break below 0.9200 in CHF-driven trade, with prices currently pressuring congestion support at 0.9180. Daily stochastics are falling, unwinding overbought areas, and the daily Tension Indicator is turning down, highlighting room for further losses in the coming sessions. A close below 0.9180 will add weight to sentiment and extend losses towards further congestion around 0.9150. However, positive weekly charts should prompt renewed buying interest towards here and limit any initial tests in renewed consolidation. Meanwhile, a close back above 0.9200 would turn sentiment neutral once again, and prompt fresh range extension beneath 0.9230.