USD/CHF approaching resistance, potential drop!

USDCHF is approaching our first resistance at 1.0015 (61.8% Fibonacci extension , 50% Fibonacci retracement , Horizontal overlap resistance). where a strong drop might occur below this level pushing price down to our major support at 0.9956 (50% Fibonacci retracement , Horizontal swing low support).

Stochastic is also approaching resistance and seeing a bearish divergence 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.
The material has been provided by InstaForex Company -

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