29.11.2023 06:05 AM
USD/CHF H4 I Potential Bullish bounce?

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The USD/CHF is currently positioned for a potential bullish bounce, with significant support and resistance levels impacting its potential upward movement.

At 0.87567, the 1st support level is identified as "Multi-swing low support." This level holds importance due to its historical significance and implies a zone where buying interest may emerge, potentially facilitating a bounce. Additionally, the 2nd support level at 0.86921 is characterized as "Swing low support," indicating its potential role in supporting the price.

On the resistance side, the 1st resistance level at 0.88220 is categorized as "An Overlap resistance." This level represents a substantial barrier to further upward price movement and warrants attention from traders. Additionally, the 2nd resistance level at 0.89037 is also identified as "An Overlap resistance," reinforcing its significance as a resistance zone.

Dean Leo,
Analytical expert of InstaTrade
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