USDCHF H4 | Bearish Reversal
Title
USDCHF H4 | Bearish Reversal
Type
Bearish Reversal
Preference:
The price is moving up towards the pivot level of 0.8622, which acts as a pullback resistance close to the 127.20% Fibonacci extension. A reversal at this level could cause the price to drop to the 1st support at 0.8542. An overlap support.
Alternative Scenario:
If the price breaks above the pivot, it may rise to the 1st resistance level at 0.8710, a pullback resistance.