#USDCHF approaching pivot, potential for a drop!
Price is reacting below our pivot level at 0.92025 which is in line with horizontal swing high resistance, 78.6% Fibonacci extension level. Price can potentially take support at 0.91504, which is in line with 50.0% Fibonacci retracement levelhorizontal overlap support. Alternatively, price may rise up to our resistance at 0.92424, which coincides with horizontal swing high resistance . This is further supported by how price is likely to reverse off the Stochastic resistance level.
Pivot:
0.92025
Why we like it:
horizontal swing high resistance, 78.6% Fibonacci extension level
1st Support:
0.91504
Why we like it:
50.0% Fibonacci retracement levelhorizontal overlap support
1st Resistance:
0.92424
Why we like it:
horizontal swing high resistance
Trading FX & CFDs carries high risk.
Pivot:
0.92025
Why we like it:
horizontal swing high resistance, 78.6% Fibonacci extension level
1st Support:
0.91504
Why we like it:
50.0% Fibonacci retracement levelhorizontal overlap support
1st Resistance:
0.92424
Why we like it:
horizontal swing high resistance
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.