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.