USDCHF Approaching Resistance, Prepare For A Drop
USDCHF broke out of its ascending support-turned-resistance line and is testing its resistance at 0.9578 (38.2% Fibonacci retracement, 23.6% Fibonacci retracement) where we expect to see price push all the way down to its support at 0.9525 (horizontal swing low support). We do have to be cautious of the intermediate support at 0.9553 (76.4% Fibonacci retracement).
RSI (89) shows a corresponding breakout from its support.
RSI (89) shows a corresponding breakout from its support.
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