FX.co ★ USDCHF, H4 | Falling to 1st support?

The USD/CHF chart is currently exhibiting a bearish overall momentum, indicating that the price may potentially continue to drop towards the 1st support level.

The 1st resistance level is at 0.9006 and may provide potential resistance for the price if it were to rise. This level is an overlap resistance and coincides with the 50% Fibonacci retracement.

If the price were to break above the 1st resistance level, the next potential resistance level is at 0.9070. This level is also an overlap resistance and coincides with the 78.60% Fibonacci retracement, making it a strong level for potential resistance.

On the other hand, if the price were to drop, the 1st support level is at 0.8860. This level is a multi-swing low support and may provide potential support for the price if it were to drop.

The next potential support level is at 0.8764, which is also an overlap support and may provide additional support for the price if it were to drop further.