USD/CHF Approaching Support, Prepare For A Bounce

The USD/CHF pair is approaching its support at 0.9909 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 0.9946 (50% Fibonacci retracement, horizontal swing high resistance).

Stochastic (55, 5, 3) is nearing its support at 4.6% where a corresponding bounce could occur.

USD/CHF is approaching its support where we expect to see a bounce.

Buy above 0.9909. Stop loss at 0.9887. Take profit at 0.9946.

analytics5c1878c71b91d.png

The material has been provided by InstaForex Company - www.instaforex.com