#USDCHF approaching pivot, potential for a bounce!
Description
Price is approaching pivot level of 0.92521, which is in line with 38.2% Fibonacci retracement levelhorizontal overlap support. A reversal from this level may see price take resistance at price 0.93298. This level coincides with horizontal swing high resistance. Finally, we can expect price to take support at 0.9189261.8% Fibonacci retracement levelhorizontal overlap support . This is further supported by how price is now holding above the Ichimoku cloud support.
Pivot:
0.92521
Why we like it:
38.2% Fibonacci retracement levelhorizontal overlap support
1st Support:
0.91892
Why we like it:
61.8% Fibonacci retracement levelhorizontal overlap support
1st Resistance:
0.93298
Why we like it:
horizontal swing high resistance
Trading FX & CFDs carries high risk.
Price is approaching pivot level of 0.92521, which is in line with 38.2% Fibonacci retracement levelhorizontal overlap support. A reversal from this level may see price take resistance at price 0.93298. This level coincides with horizontal swing high resistance. Finally, we can expect price to take support at 0.9189261.8% Fibonacci retracement levelhorizontal overlap support . This is further supported by how price is now holding above the Ichimoku cloud support.
Pivot:
0.92521
Why we like it:
38.2% Fibonacci retracement levelhorizontal overlap support
1st Support:
0.91892
Why we like it:
61.8% Fibonacci retracement levelhorizontal overlap support
1st Resistance:
0.93298
Why we like it:
horizontal swing high resistance
Trading FX & CFDs carries high risk.