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Tickmill
Oct 16, 2018 3:30 AM

USDCHF approaching support, potential bounce!  Long

U.S. Dollar/Swiss FrancFXCM

Description

USDCHF is approaching our firsts support at 0.9798 (horizontal swing low support, 61.8% Fibonacci extension, 38.2% Fibonacci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 1.006 (horizontal swing high resistance, 61.8% Fibonacci extension, 76.4% Fibonacci retracement).
Stochastic (55,5,3) is also approaching support and we might see a corresponding bounce in price should it bounce above this level.
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