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Usdchflong

Outlook on USDCHF: Bearish play seenOn the H4 time frame, prices are testing a key resistance area at 0.9680 in line with the descending trend line, 61.8% Fibonacci retracement and 78.6% Fibonacci extension. We could see further downside in prices to the support target at 0.95500, which coincides with the 50% Fibonacci retracement. Stochastic is facing bearish pressure from its resistance and showing bearish divergence as well where we could see further downside, in line with prices.
Short
by shermzT
1
USDCHF H1: Bearish outlook seen, further downside below 0.9690On the H1 time frame, prices are approaching the resistance zone at 0.9690 which lines up with the 61.8% Fibonacci retracement level. We could see a reversal below the 0.9690 resistance zone to our support zone at 0.9600 which is also the graphical support zone and 23.6% Fibonacci retracement. Stochastics is testing resistance at 98.11 as well with a bearish divergence seen as highlighted in red, supporting the bearish bias.
Short
by T3-Consultancy