EURCHF approaching support, potential bounce!

FX:EURCHF   Euro / Swiss Franc
EURCHF is approaching our first support at 1.1237 (horizontal swing low support, 61.8%, 100% fiboancci extension, 78.6% fibonacci retracement ) and a strong bounce might occur below this level pushing price down to our major resistance at 1.1287 (Horizontal swing low support, 38.2% fiboancci retracement).
Stochastic (34,5,3) is also approaching support and we might see a corresponding rise in price should it bounce off this level
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks
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This analysis is provided as general market commentary and does not constitute investment advice.
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