#USDCHF approaching pivot, potential for a bounce!
Description
Price is approaching pivot level of 0.92911, which is in line with 50.0% Fibonacci retracement level, 61.8% Fibonacci retracement level. A reversal from this level may see price take resistance at price 0.93698. This level coincides with 127.2% Fibonacci retracement level. Finally, we can expect price to take support at 0.9269450.0% Fibonacci retracement level, 61.8% Fibonacci retracement level . This is further supported by how price is now holding above the Ichimoku cloud support.
Pivot:
0.92911
Why we like it:
50.0% Fibonacci retracement level, 61.8% Fibonacci retracement level
1st Support:
0.92694
Why we like it:
50.0% Fibonacci retracement level, 61.8% Fibonacci retracement level
1st Resistance:
0.93698
Why we like it:
127.2% Fibonacci retracement level
Trading FX & CFDs carries high risk.
Price is approaching pivot level of 0.92911, which is in line with 50.0% Fibonacci retracement level, 61.8% Fibonacci retracement level. A reversal from this level may see price take resistance at price 0.93698. This level coincides with 127.2% Fibonacci retracement level. Finally, we can expect price to take support at 0.9269450.0% Fibonacci retracement level, 61.8% Fibonacci retracement level . This is further supported by how price is now holding above the Ichimoku cloud support.
Pivot:
0.92911
Why we like it:
50.0% Fibonacci retracement level, 61.8% Fibonacci retracement level
1st Support:
0.92694
Why we like it:
50.0% Fibonacci retracement level, 61.8% Fibonacci retracement level
1st Resistance:
0.93698
Why we like it:
127.2% Fibonacci retracement level
Trading FX & CFDs carries high risk.