USDCHF is approaching our first resistance at 1.0007 (horizontal swing high resistance, 50% Fibonacci retracement, 100% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 0.9959 (61.8% Fibonacci retracement, 100% Fibonacci extension).
Stochastic is also approaching resistance where we 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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