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04.10.2023 06:47 AM
USDCHF H4 | Reacting off resistance?

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The USD/CHF chart currently has a bearish momentum with a potential bearish reaction at the first resistance of 0.9226, supported by the 50% Fibonacci retracement. This may lead to a drop to the significant first support at 0.9157, aligned with the 61.80% Fibonacci retracement.

The second support at 0.9104 is an overlap support, and the second resistance at 0.9263 exhibits Fibonacci confluence, increasing their importance in potential price reversals.

Dean Leo,
Analytical expert of InstaForex
© 2007-2026
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