#USDCHF approaching pivot, potential for a bounce!
Price is approaching pivot level of 0.91562, which is in line with 78.6% Fibonacci retracement level horizontal overlap support. A reversal from this level may see price take resistance at price 0.92347. This level coincides with horizontal swing high resistance. Finally, we can expect price to take support at 0.91001horizontal swing low support . This is further supported by how price is likely to bounce off the Stochastic support level .
Pivot:
0.91562
Why we like it:
78.6% Fibonacci retracement level horizontal overlap support
1st Support:
0.91001
Why we like it:
horizontal swing low support
1st Resistance:
0.92347
Why we like it:
horizontal swing high resistance
Trading FX & CFDs carries high risk.
Pivot:
0.91562
Why we like it:
78.6% Fibonacci retracement level horizontal overlap support
1st Support:
0.91001
Why we like it:
horizontal swing low support
1st Resistance:
0.92347
Why we like it:
horizontal swing high resistance
Trading FX & CFDs carries high risk.
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