#USDCHF, H4 has reversed from our Pivot, potential for a drop. for SAXO:USDCHF by HMC_Trader



Description Price is reacting below our pivot level at 0.91645 which is in line with 127.2% Fibonacci retracement level, 50.0% Fibonacci extension level horizontal overlap resistance. Price can potentially take support at 0.90866, which is in line with 61.8% Fibonacci retracement levelhorizontal overlap support. Alternatively, price may rise up to our resistance at 0.92181, which coincides with 61.8% Fibonacci retracement level, 61.8% Fibonacci extension level & horizontal swing high resistance . This is further supported by how price is holding below the EMA Pivot:
0.91645 Why we like it:
127.2% Fibonacci retracement level, 50.0% Fibonacci extension level horizontal overlap resistance 1st Support:
0.90866
61.8% Fibonacci retracement levelhorizontal overlap support 1st Resistance:
0.92181
61.8% Fibonacci retracement level, 61.8% Fibonacci extension level & horizontal swing high resistance
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