USDCHF, H4
In the H4 time frame, the USDCHF corrected after a decline and faced the 0.8530 resistance level, aligned with the 38.2 Fibonacci ratio.
The %R and MFI oscillators leave the overbought zone, giving a potential bearish sentiment.
- If the price fails to break above the 0.8530 resistance, it will open the way for a rise to the 0.8620 level;
- However, rebound from the 38.2 Fibonacci, will drop the asset back to 0.8400 support.
