#USDCHF approaching pivot, potential for a drop!
Price is reacting below our pivot level at 0.91681 which is in line with 61.8% Fibonacci retracement level horizontal swing high resistance. Price can potentially take support at 0.91001, which is in line with horizontal swing low support. Alternatively, price may rise up to our resistance at 0.92071, which coincides with horizontal swing high resistance . This is further supported by how price is likely to reverse off the Stochastic resistance level.
Pivot:
0.91681
Why we like it:
61.8% Fibonacci retracement level horizontal swing high resistance
1st Support:
0.91001
Why we like it:
horizontal swing low support
1st Resistance:
0.92071
Why we like it:
horizontal swing high resistance
Trading FX & CFDs carries high risk.
Pivot:
0.91681
Why we like it:
61.8% Fibonacci retracement level horizontal swing high resistance
1st Support:
0.91001
Why we like it:
horizontal swing low support
1st Resistance:
0.92071
Why we like it:
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.