FX.co ★ USDCHF H4 | Bearish breakout below intermediate support?

The USD/CHF chart currently exhibits an overall bearish momentum. Should price break below the intermediate support level, there is a potential for price to make a bearish continuation towards the 1st support level.

The intermediate support level at 0.9042 is identified as a pullback support that aligns close to the 127.20% Fibonacci extension level while the 1st support level at 0.9013 is also noted as a pullback support. Additionally, the 2nd support level at 0.8983 is identified as a pullback support that aligns with the 38.20% Fibonacci retracement level.

To the upside, the 1st resistance level at 0.9078 is identified as an overlap resistance. Higher up, the 2nd resistance level at 0.9225 is noted as a multi-swing-high resistance.