Type: Bearish ReversalKey Levels:Resistance: 0.97506Pivot: 0.96719Support: 0.95535Preferred Case:On the H4, with MACD moving in a bearish momentum, we have a bearish bias that price will drop to our 1st support at 0.95535 where the 61.8% Fibonacci retracement and swing low support are from our pivot at 0.96719 in line with the overlap resistance and 23.6% fibonacci retracement.Alternative Scenario:Alternatively, price may break pivot structure and head for 1st resistance at 0.97506 where the swing high resistance and 38.2% fibonacci retracement are.
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/usdchf-h4-or-potential-for-bearish-continuation"
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