Published: 2025-03-05T09:28:34.000Z
Chart EUR/CHF Update: Higher in range - strong resistance at 0.9517
Senior Technical Strategist
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Cautious trade is giving way to a push higher
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9555 | ** | 61.8% ret of Jul-Nov fall | S1 | 0.9450 | * | break level | |
| R3 | 0.9517 | ** | 24 Jan YTD high | S2 | 0.9400 | ** | congestion | |
| R2 | 0.9500 | ** | break level | S3 | 0.9350 | * | congestion | |
| R1 | 0.9485 | ** | 50% ret of Jul-Nov fall | S4 | 0.9300 | * | congestion |
Asterisk denotes strength of level
09:20 GMT - Cautious trade is giving way to a push higher, with prices currently pressuring resistance at the 0.9485 Fibonacci retracement. Daily readings continue to rise, highlighting room for further strength. But a close above the 0.9517 current year high of 24 January is needed to turn sentiment outright positive and extend November gains towards the 0.9555 retracement. Meanwhile, support is raised to 0.9450. An unexpected close beneath here would turn sentiment neutral and prompt consolidation above congestion support at 0.9400.