USD/CHF: Pair Could Drop
Tickmill | Jan 19, 2022 03:39AM ET
Type: Bearish reversal
Key Levels: Resistance: 0.92008, pivot: 0.91795 and support: 0.91316
Preferred Case: USD/CHF is moving below the Ichimoku cloud, we have a bearish bias that price will drop from our pivot of 0.91795 in line with the 50% Fibonacci retracement level to 1st support at 0.91316 in line with the 50% Fibonacci retracement level.
Alternative Scenario: Alternatively, the price may break the pivot structure and head for 1st resistance at 0.92008 in line with the 61.8% Fibonacci retracement.
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