USDCHF facing bearish pressure | 15th Apr 2021
Prices are facing bearish pressure from descending trend line resistance which is in line with horizontal swing high resistance, 50% Fibonacci extension and 78.6% Fibonacci retracement. Prices might push down towards 1st support which is in line with horizontal swing low support, 78.6% Fibonacci extension and 161.8% Fibonacci retracement. If prices push up further, it might face resistance from horizontal swing high resistance which coincides with 161.8% Fibonacci extension and 78.6% Fibonacci retracement. Stochastics is also facing resistance from 91.3 level.
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