Published: 2024-12-13T09:20:33.000Z
Chart EUR/CHF Update: Higher in CHF-driven trade
Senior Technical Strategist
5
No change to the bullish tone
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9500 | ** | break level | S1 | 0.9300 | * | congestion | |
| R3 | 0.9445/50 | * | 1 Nov (w) high; break level | S2 | 0.9253 | * | 6 Dec (w) low | |
| R2 | 0.9400 | ** | congestion | S3 | 0.9200/02 | ** | figure; 22 Nov all-time low | |
| R1 | 0.9350 | * | congestion | S4 | 0.9150 | figure |
Asterisk denotes strength of level
09:10 GMT - No change to the bullish tone, with CHF-driven gains currently testing levels just above congestion resistance at 0.9350. Intraday studies are positive and daily readings are rising, highlighting room for continuation beyond here towards further congestion around 0.9400. However, already overbought intraday studies could limit any initial tests in consolidation, before further gains are seen. Meanwhile, support remains at congestion around 0.9300 and should underpin any immediate pullbacks.