USDCHF H4 I Bearish Reversal
Title
USDCHF H4 I Bearish Reversal
Type
Bearish Reversal
Preference:
The price is moving up towards the pivot level of 0.8690, which acts as a pullback resistance close to 38.2% Fibonacci retracement. A reversal at this level could cause the price to drop to 1st support at 0.8613, an overlap support.
Alternative Scenario:
If the price breaks above the pivot, it may rise to 1st resistance level at 0.8800, a pullback resistance close to 50% Fibonacci retracement.