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17.10.2023 05:50 AM
USDCHF H4 I Potentail bullish reversal?

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The USD/CHF chart currently displays bullish momentum, suggesting a possible bounce from the first support towards the initial resistance. The first support at 0.8998 aligns with a prior swing low and the second support at 0.8934 coincides with the 161.80% Fibonacci Retracement, providing strong support potential. On the resistance side, the first resistance at 0.9085 represents a multi-swing high resistance, followed by the second resistance at 0.9116, which is an overlap resistance. Additionally, there's an intermediate resistance at 0.9039, also acting as an overlap resistance.

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