FX.co ★ USDCHF, H4 | Bullish Divergence Expected?

The USD/CHF pair is currently in a bearish trend but is above a key upward trend line, indicating possible future bullish momentum. Near-term predictions anticipate a further drop to the first support level at 0.9005 before potentially bouncing back towards the first resistance. This support level aligns with the 50% Fibonacci retracement, boosting its defensive potential. An additional support level is at 0.8984. In case of a price reversal, resistances are found at 0.9062 and 0.9097, the latter coinciding with the 127.20% Fibonacci extension. The RSI shows a bearish divergence, hinting at a possible price decline soon.