USDCHF approaching resistance, potential drop!

2018年7月16日

USDCHF is approaching our first resistance at 1.0055 (horizontal swing high resistance, 76.4% Fibonacci retracement, 100% Fibonacci extension) where a strong reaction might occur below this level pushing price down to our major support at 0.9936 (horizontal pullback support, 61.8% Fibonacci retracement, 100% Fibonacci extension). A breakout below our intermediate support at 0.9986 (horizontal pullback support, 38.2% Fibonacci retracement) might provide the bearish acceleration to our major support target.
Stochastic (89,5,3) is also reacting off our resistance and we might see a corresponding drop in price.
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