USDCHF approaching resistance, potential drop!

USDCHF is approaching our first resistance at 0.9989 (horizontal overlap resistance, 76.4% Fibonacci retracement, 61.8% Fibonacci extension) and a strong reaction might occur below this level, pushing price down to our major support at 0.9861 (horizontal swing low support, 61.8% Fibonacci retracement, 100% Fibonacci extension).
Stochastic (55,5,3) is also approaching our resistance we might see a further corresponding drop in price.
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Chart PatternschfForexforexsignalsforextradingHarmonic PatternsTrend AnalysisUSDUSDCHFusdchflongusdchfshort

This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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