#USDCHF approaching pivot, potential for a rise!
Price has broken above our pivot level at 0.92588 which is in line with 23.6% Fibonacci retracement level . We could potentially see a further rise from here towards 0.9313, which coincides with -27.2% Fibonacci retracement level, 161.8% Fibonacci extension level. Finally, we can expect price to take support at 0.9237, which coincides with 38.2% Fibonacci retracement level horizontal overlap support . This is further supported by how MACD is holding above the 0 line.
Pivot:
0.92588
Why we like it:
23.6% Fibonacci retracement level
1st Support:
0.92370
Why we like it:
38.2% Fibonacci retracement level horizontal overlap support
1st Resistance:
0.93130
Why we like it:
-27.2% Fibonacci retracement level, 161.8% Fibonacci extension level
Trading FX & CFDs carries high risk.
Pivot:
0.92588
Why we like it:
23.6% Fibonacci retracement level
1st Support:
0.92370
Why we like it:
38.2% Fibonacci retracement level horizontal overlap support
1st Resistance:
0.93130
Why we like it:
-27.2% Fibonacci retracement level, 161.8% Fibonacci extension level
Trading FX & CFDs carries high risk.
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