USDCHF is approaching our first resistance at 1.0007 (horizontal swing high resistance, 50% Fibonacci retracement , 100% Fibonacci extension ) where a strong drop might occur below this level pushing price down to our major support at 0.9959 (61.8% Fibonacci retracement , 100% Fibonacci extension ). Stochastic is also approaching resistance where we might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
