Chart USD/CHF Update: Choppy in range - daily studies under pressure
The anticipated bounce has reached congestion resistance at 0.7950
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8100 | ** | break level | S1 | 0.7900 | * | congestion | |
| R3 | 0.8050 | break level | S2 | 0.7850 | ** | 76.4% ret of 2011-2016 rally | ||
| R2 | 0.8000 | ** | congestion | S3 | 0.7830~ | ** | 17 Sep 2025 (y) low | |
| R1 | 0.7950 | * | congestion | S4 | 0.7800 | * | figure |
Asterisk denotes strength of level
09:15 GMT - The anticipated bounce has reached congestion resistance at 0.7950, where overbought intraday studies are prompting fresh selling interest. Daily stochastics and the daily Tension Indicator are under pressure, highlighting room for a retest of congestion support at 0.7900. However, mixed weekly charts should limit any initial break in consolidation above critical support at the 0.7850 Fibonacci retracement and the 0.7830~ year low of 17 September 2025. A further close beneath here will add weight to sentiment and extend December 2016 losses initially to 0.7800. Meanwhile, a close above 0.7950, if seen, will help to stabilise price action and prompt consolidation beneath further congestion around 0.8000.