USDCHF approaching resistance, potential drop!

USDCHF approaching resistance, potential drop!


USDCHF is approaching our first resistance at 0.9992 (horizontal overlap resistance, 61.8% Fibonacci retracement, 100% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 0.9930 (horizontal swing low support, 61.8% Fibonacci extension, 50% Fibonacci retracement).
Stochastic (89,5,3) is also approaching resistance and a reaction below this level might see a corresponding drop in price.
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Losses can exceed the initial investment so please ensure you fully understand the risks.



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