FX.co ★ USDCHF, Potential For Bullish Bounce | 13th July 2022

On the H4, with price moving above the ichimoku cloud, we have a bullish bias that price will rise from our 1st support at 0.97233 where the horizontal pullback support is to our 1st resistance at 1.00485 in line with the 100% Fibonacci projection is. Alternatively, price may not break 1st support and head for 2nd support at 0.95268 where the horizontal pullback support.

Trading Recommendation

Entry: 0.97233 Reason for Entry:Horizontal pullback supportTake Profit: 1.00485

Reason for Take Profit: 100% Fibonacci projection

Stop Loss: 0.95268

Reason for Stop Loss:Horizontal pullback support