Published: 2025-07-16T08:28:06.000Z
Chart USD/CHF Update: Studies improving
Senior Technical Strategist
1
The anticipated break above 0.8000 is giving way to consolidation
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8240 | ** | 61.8% ret of May-Jul fall | S1 | 0.8000 | ** | congestion | |
| R3 | 0.8200 | * | congestion | S2 | 0.7900 | congestion | ||
| R2 | 0.8170 | * | 50% ret of May-Jul fall | S3 | 0.7870~ | ** | 1 Jul YTD low | |
| R1 | 0.8100 | * | cong, 38.2% ret | S4 | 0.7850 | ** | 76.4% ret of 2011-2016 rally |
Asterisk denotes strength of level
09:20 BST - The anticipated break above 0.8000 is giving way to consolidation above here, as mixed intraday studies keep near-term sentiment cautious. Daily readings are rising and broader weekly charts continue to improve, highlighting room for continuation of July gains towards strong resistance at 0.8100. However, already overbought daily stochastics could limit any initial tests in consolidation. Meanwhile, a break back below congestion support at 0.8000 will turn sentiment neutral and prompt consolidation above further congestion around 0.7900.