FX.co ★ USDCHF likely to bounce off support, potential upside!

Price is likely to bounce off support at the 0.92006 level which coincides with the 38.2% Fibonacci extension, 23.6% Fibonacci retracement and potential graphical overlap support. Price is then likely to rise up to first resistance at 0.91716 which coincides with a graphical swing high as well as the 127.2% Fibonacci extension level. Alternatively, we could see a reversal and drop towards 2nd support in line with 78.6% Fibonacci extension, 61.8% Fibonacci retracement and horizontal swing low support. Price is also holding above the EMA which further strengthens our bullish view.