#USDCHF approaching pivot, potential for a drop!
Description
Price is reacting below our pivot level at 0.91745 which is in line with 61.8% Fibonacci retracement level and horizontal overlap resistance. Price can potentially take support at 0.91107, which is in line with 127.2% Fibonacci retracement level and horizontal swing low support. Alternatively, price may rise up to our resistance at 0.91926, which coincides with 50.0% Fibonacci retracement level and horizontal swing high resistance . This is further supported by how price is now holding below the Ichimoku cloud resistance.
Pivot:
0.91745
Why we like it:
61.8% Fibonacci retracement level and horizontal overlap resistance
1st Support:
0.91107
Why we like it:
127.2% Fibonacci retracement level and horizontal swing low support
1st Resistance:
0.91926
Why we like it:
50.0% Fibonacci retracement level and horizontal swing high resistance
Trading FX & CFDs carries high risk.
Price is reacting below our pivot level at 0.91745 which is in line with 61.8% Fibonacci retracement level and horizontal overlap resistance. Price can potentially take support at 0.91107, which is in line with 127.2% Fibonacci retracement level and horizontal swing low support. Alternatively, price may rise up to our resistance at 0.91926, which coincides with 50.0% Fibonacci retracement level and horizontal swing high resistance . This is further supported by how price is now holding below the Ichimoku cloud resistance.
Pivot:
0.91745
Why we like it:
61.8% Fibonacci retracement level and horizontal overlap resistance
1st Support:
0.91107
Why we like it:
127.2% Fibonacci retracement level and horizontal swing low support
1st Resistance:
0.91926
Why we like it:
50.0% Fibonacci retracement level and horizontal swing high resistance
Trading FX & CFDs carries high risk.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.