FX.co ★ USDCHF , H4 | Continue to 1st resistance?

The USD/CHF chart is currently showing a slight bullish momentum, however, the confidence in this upward trend remains low. A possible bullish continuation could reach the first resistance level at 0.9062. The first support level is at 0.9030, a historically significant overlap support where buyers have previously entered the market. The second support at 0.9006, also an overlap support, coincides with the 50% Fibonacci retracement and 61.80% Fibonacci projection, enhancing its role as a potential support. On the resistance side, the first and second resistance levels are at 0.9062 and 0.9097, both identified as overlap resistances that could limit further upward movement. The latter aligns with the 138.20% Fibonacci expansion, increasing its significance as a resistance area.