USDCHF approaching support, potential bounce!
USDCHF is approaching our first support at 0.9901 (horizontal swing low support, 61.8%, 76.4% fibonacci retracement, 61.8%, 100% fibonacci extension) where a strong bounce might occur above this level pushing price up to our major resistance at 1.0026 (horizontal swing high resistance, 76.4% fibonacci retracement, 61.8% fibonacci extension). A breakout above our intermediate resistance at 0.9973 (horizontal swing high resistance, 50% fibonacci retracement) might provide the bullish acceleration to our major resistance level.
Stochastic (55,5,3) is also approaching support and a bounce off this level might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (55,5,3) is also approaching support and a bounce off this level might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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