FX.co ★ USDCHF is approaching support, potential bounce

Price is approaching our first support where we could see a bounce above this level to our first resistance target. Stochastic is showing signs of bullish pressure as well, in line with our bullish bias.

Trading Recommendation

Entry: 0.88739

Reason for Entry:

horizontal swing low support, 78.6% fibonacci retracement

Take Profit: 0.89147

Reason for Take Profit:

Horizontal swing high resistance, 100% fibonacci extension

Stop Loss: 0.88589

Reason for Stop Loss:

Horizontal swing low support