#USDCHF, H4 approaching pivot, potential for a reversal!

2021年7月19日

Price is approaching pivot level of 0.90540, which is in line with 61.8% Fibonacci retracement level, 161.8% Fibonacci retracement level & horizontal overlap support. A reversal from this level may see price take resistance at price 0.92661. This level coincides with 61.8% Fibonacci retracement level, 100% Fibonacci extension level & horizontal overlap resistance. Finally, we can expect the price to take support at 0.89172, in line with 78.6% Fibonacci retracement level & horizontal overlap support. This is further supported by how MACD is holding above the 0 line.

Pivot:
0..90540

Why we like it:
61.8% Fibonacci retracement level, 161.8% Fibonacci retracement level & horizontal overlap support

1st Support:
0.89172
78.6% Fibonacci retracement level & horizontal overlap support

1st Resistance:
0.92661
61.8% Fibonacci retracement level, 100% Fibonacci extension level & horizontal overlap resistance
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