#USDCHF approaching pivot, potential for a bounce!

Price is approaching pivot level of 0.91343, which is in line with horizontal overlap support. A reversal from this level may see price take resistance at price 0.92025. This level coincides with 78.6% Fibonacci extension level horizontal overlap resistance. Finally, we can expect price to take support at 0.9101161.8% Fibonacci retracement level horizontal swing low support . This is further supported by how price is likely to bounce off the Stochastic support level .

Pivot:
0.91343
Why we like it:
horizontal overlap support

1st Support:
0.91011
Why we like it:
61.8% Fibonacci retracement level horizontal swing low support

1st Resistance:
0.92025
Why we like it:
78.6% Fibonacci extension level horizontal overlap resistance

Trading FX & CFDs carries high risk.