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USDCHF, H4 | Potential Bearish Dip

31059 usdchf h4 potential bearish dip

Type: Bearish ReversalKey Levels:Resistance: 0.93555Pivot: 0.93309Support: 0.9274Preferred Case:Prices are at a pivot and graphical overlap. We see the potential for a sell entry at our pivot at 0.93309 in line with 127.2% Fibonacci extension and 127.2% Fibonacci Projection towards our Take Profit at 1st support at 0.9274 in line with 23.6% Fibonacci retracement. RSI is at levels where dips previously occurred.Alternative Scenario:Alternatively, prices may go higher towards our 1st resistance at 0.93555 which is a graphical swing high.

Source: Tickmill

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