#USDCHF approaching pivot, potential for a rise!
Price has broken above our pivot level at 0.92588 which is in line with 23.6% Fibonacci retracement level . We could potentially see a further rise from here towards 0.9313, which coincides with -27.2% Fibonacci retracement level, 161.8% Fibonacci extension level. Finally, we can expect price to take support at 0.9237, which coincides with 38.2% Fibonacci retracement level horizontal overlap support . This is further supported by how MACD is holding above the 0 line.
Pivot:
0.92588
Why we like it:
23.6% Fibonacci retracement level
1st Support:
0.92370
Why we like it:
38.2% Fibonacci retracement level horizontal overlap support
1st Resistance:
0.93130
Why we like it:
-27.2% Fibonacci retracement level, 161.8% Fibonacci extension level
Trading FX & CFDs carries high risk.
Pivot:
0.92588
Why we like it:
23.6% Fibonacci retracement level
1st Support:
0.92370
Why we like it:
38.2% Fibonacci retracement level horizontal overlap support
1st Resistance:
0.93130
Why we like it:
-27.2% Fibonacci retracement level, 161.8% 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.