Chart EUR/CHF Update: Turning higher in CHF-dominant trade
Consolidation has given way to a push higher in CHF-dominant trade
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9550 | * | congestion | S1 | 0.9400 | * | congestion | |
| R3 | 0.9500 | * | congestion | S2 | 0.9375 | congestion | ||
| R2 | 0.9455 | * | 50% ret of 2024-2026 fall | S3 | 0.9350 | * | break level | |
| R1 | 0.9435 | * | 2 Sep YTD high | S4 | 0.9300/07 | ** | cong; 19-20 Aug (w) low |
Asterisk denotes strength of level
10:30 BST - Consolidation has given way to a push higher in CHF-dominant trade, with prices currently balanced around 0.9425. Daily readings have ticked higher, highlighting room for a test of critical resistance at the 0.9435 current year high of 2 September. However, overbought weekly stochastics are also turning up and the weekly Tension Indicator continues to rise, highlighting room for a later break and extension of gains from the 0.8980 current year low of 9 March towards the 0.9455 Fibonacci retracement.
Meanwhile, support remains at congestion around 0.9400. A close beneath here, if seen, should give way to fresh consolidation above 0.9350.