#USDCHF approaching pivot, potential for rise!
Description
Price is approaching pivot level of 0.90607, which is in line with 127.2% Fibonacci extension level, 61.8% Fibonacci retracement level & horizontal pullback support. A reversal from this level may see price take resistance at price 0.92136. This level coincides with 61.8% Fibonacci retracement level & 76.4% Fibonacci extension level. Finally, we can expect price to take support at 0.8928961.8% Fibonacci retracement level & horizontal swing low support . This is further supported by how price is likely to bounce off the Stochastic support level .
Pivot:
0.90607
Why we like it:
127.2% Fibonacci extension level, 61.8% Fibonacci retracement level & horizontal pullback support
1st Support:
0.89289
61.8% Fibonacci retracement level & horizontal swing low support
1st Resistance:
0.92136
61.8% Fibonacci retracement level & 76.4% Fibonacci extension level
Trading FX & CFDs carries high risk.
Price is approaching pivot level of 0.90607, which is in line with 127.2% Fibonacci extension level, 61.8% Fibonacci retracement level & horizontal pullback support. A reversal from this level may see price take resistance at price 0.92136. This level coincides with 61.8% Fibonacci retracement level & 76.4% Fibonacci extension level. Finally, we can expect price to take support at 0.8928961.8% Fibonacci retracement level & horizontal swing low support . This is further supported by how price is likely to bounce off the Stochastic support level .
Pivot:
0.90607
Why we like it:
127.2% Fibonacci extension level, 61.8% Fibonacci retracement level & horizontal pullback support
1st Support:
0.89289
61.8% Fibonacci retracement level & horizontal swing low support
1st Resistance:
0.92136
61.8% Fibonacci retracement level & 76.4% Fibonacci extension level
Trading FX & CFDs carries high risk.
Disclaimer
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