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USDCHF, H4 | Bullish Bounce

31682 usdchf h4 bullish bounce

Type: Bullish BounceKey Levels:Resistance: 0.9321Pivot: 0.91732Support: 0.91379Preferred Case:Price is abiding to the ascending channel, signifying an overall bullish momentum. Price is at the graphical overlap support, we can expect to bounce from the pivot level in line with 78.6% Fibonacci projection and 61.8% Fibonacci retracement towards 1st Resistance in line with 61.8% Fibonacci projection. Our bullish bias is further supported by the stochastic indicator where the %K line is at the support level.Alternative Scenario:Alternatively, price could push lower to 1st Support in line with 100% Fibonacci projection and 78.6% Fibonacci retracement.

Source: Tickmill

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