USDCHF approaching resistance, potential drop!
USDCHF is approaching our first resistance at 0.9990 (horizontal swing high resistance, 76.4% Fibonacci retracement) where a strong reaction might occur below this level pushing price down to our major support at 0.9923 (horizontal overlap support, 61.8% Fibonacci extension, 50% Fibonacci retracement).
Stochastic (55,5,3) is also seeing a bearish divergence and is approaching its resistance and a reaction off this level might see a 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 seeing a bearish divergence and is approaching its resistance and a reaction off this level might see a 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.
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