USDCHF facing bullish pressure | 25th FEB 2021

25 thg 2, 2021

USDCHF has broken through downtrend line on the daily timeframe. It has the potential to bounce from 1st support, which coincides with horizontal swing high and 61.8% Fibonacci extension level to the 1st resistance which is a Fibonacci confluence area of -27% Fibonacci retracement and 161.8% Fibonacci extension. If prices were to break through our first support, it will fall to 2nd support which coincides with horizontal swing high resistance as well as 78.6% Fibonacci retracement level