#USDCHF above pivot, potential for a further upside
Price is above the pivot level at 0.91590 which is in-line with 50% Fibonacci retracement and 20EMA. Prices may bounce further upside to resistance at 0.92400, which coincides with 100% Fibonacci retracement level and 61.8% Fibonacci extension level. MACD is also indicating bullish momentum for further upside.
Alternatively, price may drop to our support level at 0.90461 which is in-line with 78.6% Fibonacci retracement , 78.6% Fibonacci extension and ascending trendline support.
Pivot:
0.91590
Why we like it:
50% Fibonacci retracement and 20EMA
1st Support:
0.90461
Why we like it:
78.6% Fibonacci retracement , 78.6% Fibonacci extension and ascending trendline support
1st Resistance:
0.92400
Why we like it:
100% Fibonacci retracement level and 61.8% Fibonacci extension level
Trading FX & CFDs carries high risk.
Alternatively, price may drop to our support level at 0.90461 which is in-line with 78.6% Fibonacci retracement , 78.6% Fibonacci extension and ascending trendline support.
Pivot:
0.91590
Why we like it:
50% Fibonacci retracement and 20EMA
1st Support:
0.90461
Why we like it:
78.6% Fibonacci retracement , 78.6% Fibonacci extension and ascending trendline support
1st Resistance:
0.92400
Why we like it:
100% Fibonacci retracement level and 61.8% Fibonacci extension level
Trading FX & CFDs carries high risk.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.