USDCHF approaching pivot, potential for a rise!
Description
Price has broken above our pivot level at 0.92243 which is in line with 38.2% Fibonacci retracement level and horizontal overlap support . We could potentially see a further rise from here towards 0.92802, which coincides with 100% Fibonacci projection level and horizontal swing high resistance. Finally, we can expect price to take support at 0.91741, which coincides with 61.8% Fibonacci projection level and horizontal swing low support . This is further supported by how price is now holding above the Ichimoku cloud support.
Pivot:
0.92243
Why we like it:
38.2% Fibonacci retracement level and horizontal overlap support
1st Support:
0.91741
61.8% Fibonacci projection level and horizontal swing low support
1st Resistance:
0.92802
100% Fibonacci projection level and horizontal swing high resistance
Trading FX & CFDs carries high risk.
Price has broken above our pivot level at 0.92243 which is in line with 38.2% Fibonacci retracement level and horizontal overlap support . We could potentially see a further rise from here towards 0.92802, which coincides with 100% Fibonacci projection level and horizontal swing high resistance. Finally, we can expect price to take support at 0.91741, which coincides with 61.8% Fibonacci projection level and horizontal swing low support . This is further supported by how price is now holding above the Ichimoku cloud support.
Pivot:
0.92243
Why we like it:
38.2% Fibonacci retracement level and horizontal overlap support
1st Support:
0.91741
61.8% Fibonacci projection level and horizontal swing low support
1st Resistance:
0.92802
100% Fibonacci projection level and horizontal swing high resistance
Trading FX & CFDs carries high risk.
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