USDCHF approaching resistance, potential drop!
Price is approaching our first resistance at 0.9984 (horizontal overlap resistance, 61.8% Fibonacci retracement, 100% Fibonacci extension) where price might drop to its support at 0.9910 (horizontal swing low support, 61.8% Fibonacci extension, 61.8% Fibonacci retracement). Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias.
RSI (34) is seeing a bearish exit and we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
RSI (34) is seeing a bearish exit and we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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