USDCHF D1 | Bearish reversal
Title
USDCHF D1 | Bearish reversal
Type
Bearish Reversal
Preference:
Price is rising toward the pivot point of 0.869, a pullback resistance close to the 38,2% Fibonacci retracement level. A reverse from this level could lead the price to fall to 1st support level at 0.8448, which is considered a swing-low support level.
Alternative scenario:
If the price breaks above the pivot, it could rise to 1st resistance at 0.8835, a pullback resistance level close to 61.8% Fibo retracement.
To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.