USDCHF: Potential Rebound

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.

Trading foreign currencies on margin involves significant risks and may not be suitable for everyone, as high leverage can increase both potential gains and losses. Before entering the foreign exchange market, it is essential to evaluate your investment goals, personal experience, and risk tolerance.

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Author: Timur Yurdagyul

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