Chart EUR/CHF Update: Consolidating - gains to remain limited
Little change, as unwinding overbought intraday studies keep near-term sentiment cautious and extend consolidation around congestion resistance at 0.9350
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9490/00 | ** | 61.8% ret; congestion | S1 | 0.9300 | ** | congestion | |
| R3 | 0.9435 | * | 50% ret of Mar-Apr fall | S2 | 0.9260 | break level | ||
| R2 | 0.9400 | * | congestion | S3 | 0.9212 | ** | 11 Apr YTD low | |
| R1 | 0.9350 | ** | congestion | S4 | 0.9200/02 | ** | figure; Nov 2024 (y) low |
Asterisk denotes strength of level
11:00 BST - Little change, as unwinding overbought intraday studies keep near-term sentiment cautious and extend consolidation around congestion resistance at 0.9350. Daily readings continue to rise, highlighting room for a fresh test above here. But negative weekly charts should limit scope in renewed selling interest beneath further congestion around 0.9400. Meanwhile, support remains at 0.9300. A later break beneath here will open up 0.9260, with further selling interest extending April losses towards strong support at the 0.9212 current year low of 11 April and 0.9200/02.