Published: 2024-04-23T07:57:50.000Z
Chart USD/CHF Update: Consolidating - studies under pressure
Senior Technical Strategist
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Still little change, as unwinding overbought intraday studies keep near-term sentiment cautious
Level | Comment | Level | Comment | |||||
---|---|---|---|---|---|---|---|---|
R4 | 0.9300 | ** | congestion | S1 | 0.9100 | * | break level | |
R3 | 0.9245 | ** | 3 Oct (m) high | S2 | 0.9060 | break level | ||
R2 | 0.9200 | * | congestion | S3 | 0.9000 | * | break level | |
R1 | 0.9150 | * | congestion, 15 Apr YTD high | S4 | 0.8965 | 25 Mar low |
08:50 BST - Still little change, as unwinding overbought intraday studies keep near-term sentiment cautious and extend consolidation above support at 0.9100. Oversold daily stochastics are turning down once again and the daily Tension Indicator is falling, highlighting room for fresh tests lower in the coming sessions. A break below 0.9100 will target 0.9060, with deteriorating weekly charts highlighting potential for continuation beneath here towards 0.9000. A further close beneath here would confirm a near-term top in place at the 0.9150 current year high of 15 April. Meanwhile, any immediate tests higher should meet selling interest beneath 0.9150.