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USDCHF H4 | Potential for Bearish Reversal

37515 usdchf h4 potential for bearish reversal

Type: Bearish ReversalKey Levels:Resistance: 0.94304Pivot: 0.93745Support: 0.92879Preferred Case:On the H4 timeframe, price is abiding by the ascending trendline. We see the potential for bearish reversal from our pivot level at 0.93745 in line with 61.8% Fibonacci retracement towards our 1st support level at 0.92879 which is in line with 50% Fibonacci retracement.Alternative Scenario:Alternatively, price might break through the key resistance level and head towards the 1st resistance level of 0.94304 which lines up with 78.6% Fibonacci projection and 127.2% Fibonacci extension

Source: Tickmill

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