Title

USDCHF M15 I  Bearish Reversal

Type

Bearish Reversal

Preference:

The price is falling from the pivot level of 0.8543, which acts as a pullback support level. A bounce from this level might cause the price to rise to the 1st resistance level at 0.8624, a pullback resistance.

Alternative Scenario:

If the price breaks below the pivot, it may fall to the 1st support level at 0.8482, which acts as an overlap support level close to 61.8% Fibonacci retracement.