#USDCHF, H4 is reversing from our Pivot, potential for a drop.
Price is approaching pivot level of 0.91564 where we have 23.6% Fibonacci retracement level lining up. A reversal from this level might see price take support at 0.91067, which is in line with 127.2% Fibonacci retracement level, 100% Fibonacci extension level. Finally, price is unlikely to surpass our strong resistance at 0.92003, which coincides with 50.0% Fibonacci retracement level, 100% Fibonacci extension level & horizontal overlap resistance .
Pivot:
0.91564
Why we like it:
23.6% Fibonacci retracement level
1st Support:
0.91067
127.2% Fibonacci retracement level, 100% Fibonacci extension level
1st Resistance:
0.92003
50.0% Fibonacci retracement level, 100% Fibonacci extension level & horizontal overlap resistance
Trading FX & CFDs carries high risk.
Pivot:
0.91564
Why we like it:
23.6% Fibonacci retracement level
1st Support:
0.91067
127.2% Fibonacci retracement level, 100% Fibonacci extension level
1st Resistance:
0.92003
50.0% Fibonacci retracement level, 100% Fibonacci extension level & horizontal overlap resistance
Trading FX & CFDs carries high risk.
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