Chart USD/CHF Update: Further consolidation - critical support at 0.7600
Cautious trade above 0.7700 has given way to a minor pullback
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.7830~ | * | 17 Sep 2025 (y) low | S1 | 0.7635~ | 30 Jan low | ||
| R3 | 0.7800 | * | break level | S2 | 0.7600 | ** | 28 Jan YTD low | |
| R2 | 0.7750 | congestion | S3 | 0.7500 | * | figure | ||
| R1 | 0.7700 | * | break level | S4 | 0.7400 | * | figure |
Asterisk denotes strength of level
11:30 GMT - Cautious trade above 0.7700 has given way to a minor pullback, as overbought intraday studies unwind, with prices currently balanced around 0.7675. A drift lower towards the 0.7635~ low of 30 January cannot be ruled out. But daily readings have ticked higher, suggesting any immediate tests could give way to consolidation, before negative weekly charts prompt further losses. A break below 0.7635~ will open up critical support at the 0.7600 current year low of 28 January. A further close beneath here will turn sentiment negative and extend December 2016 losses initially to 0.7500. Meanwhile, a close back above 0.7700, if seen, will help to stabilise price action and prompt consolidation beneath 0.7800.