The USD/CHF chart demonstrates a neutral momentum, indicating a lack of clear market direction. Consequently, there is a potential for price fluctuations between the first resistance level at 0.8987 and the first support level at 0.8907. The first resistance level is significant as it represents an overlap resistance and exhibits Fibonacci confluence with the 61.80% Fibonacci Retracement and 100% Fibonacci Projection. On the other hand, the first support level serves as a multi-swing low support, providing additional reinforcement. Furthermore, the second support level at 0.8861 acts as a pullback support, while the second resistance level at 0.9038 acts as a pullback resistance.
The material has been provided by InstaForex Company – www.instaforex.com
The USD/CHF chart demonstrates a neutral momentum, indicating a lack of clear market direction. Consequently, there is a potential for price fluctuations between the first resistance level at 0.8987 and the first support level at 0.8907. The first resistance level is significant as it represents an overlap resistance and exhibits Fibonacci confluence with the 61.80% Fibonacci Retracement and 100% Fibonacci Projection. On the other hand, the first support level serves as a multi-swing low support, providing additional reinforcement. Furthermore, the second support level at 0.8861 acts as a pullback support, while the second resistance level at 0.9038 acts as a pullback resistance.
The material has been provided by InstaForex Company – www.instaforex.com
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