Published: 2024-04-29T08:10:56.000Z
Chart EUR/CHF Update: Balanced in range
Senior Technical Strategist
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Still little change
Levels | Imp | Comment | Levels | Imp | Comment | |||
R4 | 0.9900 | ** | 76.4% ret of 2023 fall | S1 | 0.9760 | * | break level | |
R3 | 0.9880 | * | 27 Apr 23 (w) high | S2 | 0.9684/94 | ** | Sep-Nov highs | |
R2 | 0.9842/48 | ** | 22 Jun (m); 4 Apr YTD highs | S3 | 0.9620 | * | 38.2% ret of Dec-Apr rally | |
R1 | 0.9800 | * | congestion | S4 | 0.9600 | * | congestion | |
*Asterisk denotes strength of level
08:55 BST - Still little change, as mixed/negative intraday studies keep near-term sentiment cautious and extend consolidation above support at 0.9760. Rising daily stochastics are flattening, suggesting further range trade, but a close beneath here would add weight to sentiment and prompt a swift fall towards strong support at the 0.9684/94 highs from September-November. However, the rising daily Tension Indicator and mixed/positive weekly charts should promote fresh buying interest towards here. Meanwhile, resistance remains at congestion around 0.9800. A close above here would turn sentiment positive and open up critical resistance at 0.9842/48.