Chart USD/CHF Update: Room for further losses
The anticipated test of support at 0.8225 is giving way to consolidation
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.8475~ | ** | May 2025 (m) high | S1 | 0.8225~ | * | 2 Oct (w) low, 38.2% ret | |
| R3 | 0.8395/00 | ** | 14 Oct YTD high; 50% ret | S2 | 0.8200 | * | congestion | |
| R2 | 0.8350 | * | break level | S3 | 0.8175 | ** | 50% ret of Aug-Oct rally | |
| R1 | 0.8300 | * | congestion lows | S4 | 0.8150 | congestion |
Asterisk denotes strength of level
09:25 BST - The anticipated test of support at 0.8225 is giving way to consolidation, as oversold intraday studies unwind, with prices currently balanced in choppy trade around 0.8250. Daily readings continue to point lower and broader weekly charts continue to deteriorate, highlighting room for further losses in the coming sessions. A later close beneath 0.8225 will add weight to already bearish price action, and extend mid-October losses below congestion support at 0.8200 towards the 0.8175 Fibonacci retracement.
Meanwhile, a close back above resistance at 0.8300 will help to stabilise sentiment and prompt fresh consolidation beneath 0.8350.