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.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks
Stochastic (55,5,3) is also approaching our resistance we might see a further corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks
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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