FX.co ★ USDCHF, Potential For Bullish rise | 24th June 2022

Description :On the H4, with price expected to bounce off the RSI indicator, we have a bullish bias that price will rise from our 1st support at 0.95996 where the horizontal swing low support is to our 1st resistance at 0.97232 in line with the horizontal swing high resistance and 23.6% Fibonacci retracement. Alternatively, price may break structure and head for 2nd support where the 100% Fibonacci projection is at 0.95462.

Trading Recommendation

Entry: 0.95996Reason for Entry: Horizontal swing low support

Take Profit: 0.97232Reason for Take Profit: Horizontal swing high resistance and 23.6% Fibonacci retracement

Stop Loss: 0.95462Reason for Stop Loss:100% Fibonacci projection