USDCHF, H4 bouncing from our Pivot point, potential for a rise.
Description
Price bounced from our Pivot point at 0.88584 which is in line with 38.2%, 78.6% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical resistance. We could potentially see price rise from our Pivot point towards our 1st resistance level at 0.89149. It is worth noting that the price is trending above an ascending trendline and Ichimoku cloud, in line with our bullish analysis.
Pivot: 0.88584
Why we like it:
38.2%, 78.6% fibonacci retracement, 61.8% fibonacci extension and horizontal graphical resistance
1st Support: 0.88195
Why we like it:
61.8% Fibonacci retracement, 100% fibonacci extension, horizontal graphical overlap and ascending trendline support.
1st Resistance: 0.89149
Why we like it:
-68% fibonacci retracement and 61.8% fibonacci extension.
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