CADCHF, H4 | Potential Bearish Momentum

Type: Bearish ReversalKey Levels:Resistance: 0.77977Pivot: 0.77256Support: 0.76337Preferred Case:On the H4, with MACD moving in a bearish momentum, we have a bearish bias that price will drop from our pivot at 0.77256 where the horizontal overlap resistance is to our 1st support at 0.76337 where the horizontal overlap support, 100% fibonacci projection and 50% fibonacci retracement are.Alternative Scenario:Alternatively, price may break pivot structure and we can expect the bullish momentum to carry price to 1st resistance at 0.77977 in line with swing high resistance and 78.6% fibonacci projection.

Source: Tickmill