TitleUSDCHF H4 | Rising into overlap resistanceTypeBearish ReversalPreference:Price is rising towards the pivot point of 0.90223 which is an overlap resistance and could potentially reverse from here; we could see momentum carry price down to its 1st support at 0.89519 which is pullback support level.Alternative scenario:If price breaks above the pivot point, it could hit the 1st resistance at 0.90743 which is an overlap resistance that aligns close to the 78.6% Fibonacci retracement level.To discuss this trading idea, head over to Tickmill Traders Club where you can get direct access to our team of world-class analysts.
