#USDCHF approaching pivot, potential for a drop!
Price is reacting below our pivot level at 0.91873 which is in line with 61.8% Fibonacci retracement level, 78.6% Fibonacci extension level & horizontal swing high resistance. Price can potentially take support at 0.91055, which is in line with -27.2%Fibonacci retracement level, 161.8% Fibonacci extension level & horizontal swing low support. Alternatively, price may rise up to our resistance at 0.92379, which coincides with 161.8% Fibonacci extension level & horizontal swing high resistance . This is further supported by how price is now holding below the Ichimoku cloud resistance.
Pivot:
0.91873
Why we like it:
61.8% Fibonacci retracement level, 78.6% Fibonacci extension level & horizontal swing high resistance
1st Support:
0.91055
-27.2%Fibonacci retracement level, 161.8% Fibonacci extension level & horizontal swing low support
1st Resistance:
0.92379
161.8% Fibonacci extension level & horizontal swing high resistance
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