#USDCHF approaching pivot, potential for a reversal!

20 Eyl 2021

Price is approaching pivot level of 0.93329 where we have 100% Fibonacci extension level horizontal swing high resistance lining up. A reversal from this level might see price take support at 0.92396, which is in line with 61.8% Fibonacci retracement level horizontal overlap support. Finally, price is unlikely to surpass our strong resistance at 0.93864, which coincides with -27.2% Fibonacci retracement level, 127.2% Fibonacci extension level . This is further supported by how price is likely to reverse off the Stochastic resistance level.

Pivot:
0.93329
Why we like it:
100% Fibonacci extension level horizontal swing high resistance

1st Support:
0.92396
Why we like it:
61.8% Fibonacci retracement level horizontal overlap support

1st Resistance:
0.93864
Why we like it:
-27.2% Fibonacci retracement level, 127.2% Fibonacci extension level

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