#USDCHF approaching pivot, potential for a drop!
Description
Price is reacting below our pivot level at 0.91927 which is in line with horizontal overlap resistance. Price can potentially take support at 0.91526, which is in line with 100% Fibonacci extension levelhorizontal overlap support. Alternatively, price may rise up to our resistance at 0.92052, which coincides with 50.0% Fibonacci retracement levelhorizontal overlap resistance . This is further supported by how price is now holding below the Ichimoku cloud resistance.
Pivot:
0.91927
Why we like it:
horizontal overlap resistance
1st Support:
0.91526
Why we like it:
100% Fibonacci extension levelhorizontal overlap support
1st Resistance:
0.92052
Why we like it:
50.0% Fibonacci retracement levelhorizontal overlap resistance
Trading FX & CFDs carries high risk.
Price is reacting below our pivot level at 0.91927 which is in line with horizontal overlap resistance. Price can potentially take support at 0.91526, which is in line with 100% Fibonacci extension levelhorizontal overlap support. Alternatively, price may rise up to our resistance at 0.92052, which coincides with 50.0% Fibonacci retracement levelhorizontal overlap resistance . This is further supported by how price is now holding below the Ichimoku cloud resistance.
Pivot:
0.91927
Why we like it:
horizontal overlap resistance
1st Support:
0.91526
Why we like it:
100% Fibonacci extension levelhorizontal overlap support
1st Resistance:
0.92052
Why we like it:
50.0% Fibonacci retracement levelhorizontal overlap resistance
Trading FX & CFDs carries high risk.
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