USDCHF –Near Fibonacci support
USDCHF currently stands at the 38.2% retracement of the rise experienced from January to April 2021, indicating support below current levels. On 14th April the pair ended in a small bullish candlestick formation suggesting buying below current levels, RSI is rising indicating further upside potential. It would be prudent to say that USDCHF could advance towards 0.9260 and 0.9300 while it sustains above 0.9180.
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Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
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