Published: 2024-04-29T07:51:34.000Z
Chart USD/CHF Update: Leaning lower in range trade - daily studies under pressure
Senior Technical Strategist
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Little change, as prices extend consolidation at current 2024 year highs
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 | 0.9150/53 | * | congestion, 24 Apr YTD high | S4 | 0.8965 | 25 Mar low |
08:45 BST - Little change, as prices extend consolidation at current 2024 year highs. Intraday studies are under pressure and daily readings are turning down, highlighting room for a test lower in the coming sessions. Support is at 0.9100. A close beneath here will add weight to sentiment and open up 0.9060. However, mixed weekly charts are expected to limit any deeper losses in consolidation towards 0.9000. Meanwhile, a close above 0.9150/53 is needed to turn sentiment positive and extend late-December gains initially to congestion around 0.9200.