The USD/CHF chart is currently indicating the potential for a bearish continuation towards the 1st support level.
Resistance Level:
The 1st resistance level at 0.8527 is identified by a "Pullback resistance" signifying a significant barrier to further upward price movement. Beyond this, the 2nd resistance level at 0.8574 is also noted as a "Pullback resistance" that is influenced by the 50.00% Fibonacci retracement, emphasizing its significance as a resistance zone.
Support Levels:
The 1st support level at 0.8451 is identified as an "Overlap support" that is influenced by the 50.00% Fibonacci retracement, potentially facilitating a bounce. Additionally, the 2nd support level at 0.8349 is supported by a "Swing-low support," reinforcing its role as a substantial support zone.
