USDCHF testing support, potential rise!
Updated
USDCHF is testing our first support at 0.9578 (horizontal overlap support) and a strong bounce might occur above this level, pushing price up to our major resistance at 0.9667 (horizontal swing high resistance, 61.8% Fibonacci extension).
RSI (55) has also bounced off its major support which might be a good precursor for a potential rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (55) has also bounced off its major support which might be a good precursor for a potential rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Note
Woohooo well on its way to our major resistance target, watch for breakout above our intermediate resistance level!
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