#USDCHF reacting above pivot, potential for a bounce!
Price is approaching pivot level of 0.9229, which is in line with 61.8% Fibonacci retracement level horizontal swing low support. A reversal from this level may see price take resistance at price 0.93329. This level coincides with horizontal swing high resistance. Finally, we can expect price to take support at 0.91756horizontal swing low support . This is further supported by how price is now holding above the EMA .
Pivot:
0.92290
Why we like it:
61.8% Fibonacci retracement level horizontal swing low support
1st Support:
0.91756
Why we like it:
horizontal swing low support
1st Resistance:
0.93329
Why we like it:
horizontal swing high resistance
Trading FX & CFDs carries high risk.
Pivot:
0.92290
Why we like it:
61.8% Fibonacci retracement level horizontal swing low support
1st Support:
0.91756
Why we like it:
horizontal swing low support
1st Resistance:
0.93329
Why we like it:
horizontal swing high resistance
Trading FX & CFDs carries high risk.
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