#USDCHF, H4 is approaching oour pivot, potential for a rise
Description
Price has broken above our pivot level at 0.92381 which is in line with 38.2% Fibonacci extension level horizontal swing high resistance . We could potentially see a further rise from here towards 0.93453, which coincides with 78.6% Fibonacci extension level & horizontal swing high resistance. Finally, we can expect price to take support at 0.91416, which coincides with 38.2% Fibonacci retracement level & 78.6% Fibonacci extension level. This is further supported by how price is now holding above the EMA .
Pivot:
0.92381
Why we like it:
38.2% Fibonacci extension level & horizontal swing high resistance
1st Support:
0.91416
38.2% Fibonacci retracement level, 78.6% Fibonacci extension level & horizontal swing low support
1st Resistance:
0.93453
78.6% Fibonacci extension level & horizontal swing high resistance
Trading FX & CFDs carries high risk.
Price has broken above our pivot level at 0.92381 which is in line with 38.2% Fibonacci extension level horizontal swing high resistance . We could potentially see a further rise from here towards 0.93453, which coincides with 78.6% Fibonacci extension level & horizontal swing high resistance. Finally, we can expect price to take support at 0.91416, which coincides with 38.2% Fibonacci retracement level & 78.6% Fibonacci extension level. This is further supported by how price is now holding above the EMA .
Pivot:
0.92381
Why we like it:
38.2% Fibonacci extension level & horizontal swing high resistance
1st Support:
0.91416
38.2% Fibonacci retracement level, 78.6% Fibonacci extension level & horizontal swing low support
1st Resistance:
0.93453
78.6% Fibonacci extension level & horizontal swing high resistance
Trading FX & CFDs carries high risk.
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