Published: 2024-04-15T08:09:59.000Z
Chart USD/CHF Update: Further consolidation at 2024 highs
Senior Technical Strategist
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Still little change, as mixed 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 | 0.9147 | * | 10-11 Apr YTD high | S4 | 0.8965 | 25 Mar low |
09:00 BST - Still little change, as mixed intraday studies keep near-term sentiment cautious and extend consolidation beneath the 0.9147 current year high. Daily readings are mixed/positive, suggesting room for continuation towards congestion resistance at 0.9200. However, overbought weekly stochastics are flattening, suggesting any initial tests could meet profit-taking/consolidation. Critical resistance at the 0.9245 monthly high of 3 October should cap any further strength. Meanwhile, support remains at 0.9100. A close beneath here would put prices into fresh range trade around 0.9060.