Published: 2024-04-17T08:14:58.000Z
Chart EUR/CHF Update: Prices remain under pressure
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 | 0.9684/94 | ** | Sep-Nov highs | |
R3 | 0.9842/48 | ** | 22 Jun (m); 4 Apr YTD highs | S2 | 0.9650 | congestion | ||
R2 | 0.9800 | * | congestion | S3 | 0.9620 | * | 38.2% ret of Dec-Apr rally | |
R1 | 0.9760 | * | break level | S4 | 0.9600 | * | congestion | |
*Asterisk denotes strength of level
09:10 BST - Still little change, as cautious trade extends pressure on strong support at 0.9684/94. Daily studies are under pressure and overbought weekly stochastics are unwinding, highlighting a deterioration in sentiment and room for deeper losses in the coming sessions. A close beneath here will add fresh weight to already negative sentiment and extend April losses initially towards the 0.9620 Fibonacci retracement. Meanwhile, resistance remains at 0.9760 and should cap any fresh tests higher.