#USDCHF above pivot, potential for a further upside
Price is above the pivot level at 0.91590 which is in-line with 50% Fibonacci retracement and 20EMA. Prices may bounce further upside to resistance at 0.92400, which coincides with 100% Fibonacci retracement level and 61.8% Fibonacci extension level. MACD is also indicating bullish momentum for further upside.
Alternatively, price may drop to our support level at 0.90461 which is in-line with 78.6% Fibonacci retracement , 78.6% Fibonacci extension and ascending trendline support.
Pivot:
0.91590
Why we like it:
50% Fibonacci retracement and 20EMA
1st Support:
0.90461
Why we like it:
78.6% Fibonacci retracement , 78.6% Fibonacci extension and ascending trendline support
1st Resistance:
0.92400
Why we like it:
100% Fibonacci retracement level and 61.8% Fibonacci extension level
Trading FX & CFDs carries high risk.
Alternatively, price may drop to our support level at 0.90461 which is in-line with 78.6% Fibonacci retracement , 78.6% Fibonacci extension and ascending trendline support.
Pivot:
0.91590
Why we like it:
50% Fibonacci retracement and 20EMA
1st Support:
0.90461
Why we like it:
78.6% Fibonacci retracement , 78.6% Fibonacci extension and ascending trendline support
1st Resistance:
0.92400
Why we like it:
100% Fibonacci retracement level and 61.8% Fibonacci extension level
Trading FX & CFDs carries high risk.
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