#USDCHF approaching pivot, potential for a reversal!
Price is approaching pivot level of 0.91866 where we have 61.8% Fibonacci extension level horizontal swing high resistance lining up. A reversal from this level might see price take support at 0.91001, which is in line with horizontal swing low support. Finally, price is unlikely to surpass our strong resistance at 0.92071, which coincides with 78.6% Fibonacci retracement level horizontal swing high resistance . This is further supported by how price is likely to reverse off the Stochastic resistance level.
Pivot:
0.91866
Why we like it:
61.8% Fibonacci extension levelhorizontal swing high resistance
1st Support:
0.91001
Why we like it:
horizontal swing low support
1st Resistance:
0.92071
Why we like it:
78.6% Fibonacci retracement levelhorizontal swing high resistance
Trading FX & CFDs carries high risk.
Pivot:
0.91866
Why we like it:
61.8% Fibonacci extension levelhorizontal swing high resistance
1st Support:
0.91001
Why we like it:
horizontal swing low support
1st Resistance:
0.92071
Why we like it:
78.6% Fibonacci retracement levelhorizontal swing high resistance
Trading FX & CFDs carries high risk.
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