CHF has moved sideways for six months, with today’s price action within that range [Video]

Carol Harmer Charmer Trading

$CHF has been moving sideways for the past six months, and today’s price action fits neatly within that consolidation. The Daily Pivot sits at 0.7932, and we’re currently trading above this support. For reference, today’s full pivot structure is:

R1: 0.7976.
R2: 0.7996.
R3: 0.8060.
S1: 0.7912.
S2: 0.7868.
S3: 0.7804.

We also have the short‑term 50% Fibonacci retracement at 0.7960, with the session high touching 0.7965. When you layer the chart with moving averages, pivot levels, and Fibonacci retracements, the confluence is clear — everything is clustering around the same zone. For day traders, that alignment is invaluable. These levels help shape intraday strategy and highlight where momentum is likely to stall or accelerate. Despite the easy‑to‑trade range over the past half‑year, the long‑term trend for the dollar remains lower, and this still looks like a continuation pattern before the next leg down. That said, ranges can persist far longer than most expect, and we could easily remain in this consolidation for another year or more. Markets often behave this way — long periods of compression before the next decisive move. This is not investment advice.

Author

Carol Harmer

Charmer Trading

Carol Harmer has over 39 years experience of analysing and trading the world's markets and is undoubtedly one of the most respected technical trader in the world today.

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