USDCHF approaching support, potential bounce!

30 ביולי 2018

USDCHF is approaching our first support at 0.9901 (horizontal swing low support, 61.8%, 76.4% fibonacci retracement, 61.8%, 100% fibonacci extension) where a strong bounce might occur above this level pushing price up to our major resistance at 1.0026 (horizontal swing high resistance, 76.4% fibonacci retracement, 61.8% fibonacci extension). A breakout above our intermediate resistance at 0.9973 (horizontal swing high resistance, 50% fibonacci retracement) might provide the bullish acceleration to our major resistance level.
Stochastic (55,5,3) is also approaching support and a bounce off this level might see a corresponding rise in price.
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