Type : Bullish Rise Resistance : 1.06965 Pivot: 1.05910 Support : 1.04780
Preferred Case: On the H4, with prices moving above the ichimoku indicator and within the ascending channel , we have a bullish bias that price will rise to the pivot at 1.05910 where the swing high resistance and 78.6% fibonacci projection are. Once there is upside confirmation of price breaking pivot structure, we would expect bullish momentum to carry price to 1st resistance at 1.06965 where the overlap resistance, -27.2% fibonacci expansion, 100% fibonacci projection, 127.2% fibonacci extension and 78.6% fibonacci retracement are.
Alternative scenario: Alternatively, price could drop to the 1st support at 1.04780 where the pullback support is.
Fundamentals: Since there is a surprise rate hike by 50bps to -0.25%, we have a bullish view on the Swiss Franc.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.