Title
USDCHF H4 | Bullish bounce
Type
Bullish Bounce
Preference:
The price could pull back to the pivot at 0.84541, the overlap support before bouncing off and rising to the 1st resistance level at 0.85777, the pullback resistance.
Alternative scenario:
USDCHF could break out of the pivot point at 0.84541, and fall to the 1st support level at 0.83514, the swing-low support.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.