#USDCHF approaching pivot, potential for a drop!
Price is reacting below our pivot level at 0.91751 which is in line with 76.4% Fibonacci retracement levelhorizontal swing high resistance. Price can potentially take support at 0.91001, which is in line with horizontal swing low support. Alternatively, price may rise up to our resistance at 0.92071, which coincides with horizontal swing high resistance . This is further supported by how price is likely to reverse off the Stochastic resistance level .
Pivot:
0.91751
Why we like it:
76.4% Fibonacci retracement levelhorizontal swing high resistance
1st Support:
0.91001
Why we like it:
horizontal swing low support
1st Resistance:
0.92071
Why we like it:
horizontal swing high resistance
Trading FX & CFDs carries high risk.
Pivot:
0.91751
Why we like it:
76.4% Fibonacci retracement levelhorizontal swing high resistance
1st Support:
0.91001
Why we like it:
horizontal swing low support
1st Resistance:
0.92071
Why we like it:
horizontal swing high resistance
Trading FX & CFDs carries high risk.
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