USDCHF approaching pivot, potential for a rise!
Description
Price has broken above our pivot level at 0.91716 which is in line with 78.6% Fibonacci retracement levelhorizontal overlap support . We could potentially see a further rise from here towards 0.92674, which coincides with 50.0% Fibonacci retracement levelhorizontal swing high resistance. Finally, we can expect price to take support at 0.91097, which coincides with horizontal swing low support . This is further supported by how price is likely to bounce off the Stochastic support level .
Pivot:
0.91716
Why we like it:
78.6% Fibonacci retracement levelhorizontal overlap support
1st Support:
0.91097
Why we like it:
horizontal swing low support
1st Resistance:
0.92674
Why we like it:
50.0% Fibonacci retracement levelhorizontal swing high resistance
Trading FX & CFDs carries high risk.
Price has broken above our pivot level at 0.91716 which is in line with 78.6% Fibonacci retracement levelhorizontal overlap support . We could potentially see a further rise from here towards 0.92674, which coincides with 50.0% Fibonacci retracement levelhorizontal swing high resistance. Finally, we can expect price to take support at 0.91097, which coincides with horizontal swing low support . This is further supported by how price is likely to bounce off the Stochastic support level .
Pivot:
0.91716
Why we like it:
78.6% Fibonacci retracement levelhorizontal overlap support
1st Support:
0.91097
Why we like it:
horizontal swing low support
1st Resistance:
0.92674
Why we like it:
50.0% Fibonacci retracement levelhorizontal swing high resistance
Trading FX & CFDs carries high risk.
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