Title
USDCHF H1 | Bearish Continuation
Type
Bearish reversal
Preference:
The price is currently testing the pivot level at 0.9016, a pullback resistance. A fall from this level could lead the price to drop toward 1st support at 0.8973, a pullback support level that aligns with the 61.8% Fibonacci retracement
Alternative Scenario:
If price breaks above the pivot, it could rise toward the 1st resistance at 0.9054, a swing-high resistance.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.