USD/CHF testing major resistance, remain bearish

The price is testing major resistance at 0.9991 (Fibonacci retracement, horizontal overlap resistance, and bearish divergence) where we expect a reaction from for the price to drop to at least the 0.9923 support (Fibonacci retracement, short-term horizontal overlap support).

Stochastic (55,5,3) is seeing major resistance below the 91% level and also displays bearish divergence vs. the price, signaling that an impending reversal is coming.

Sell below 0.9991. Stop loss is at 1.0040. Take profit is at 0.9923.


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