Title

USDCHF H4I | Heading into 50% Fibonacci resistance

Type

Bearish reversal

Preference:
The price is rising towards the pivot at 0.7979, an overlap resistance that aligns with the 50% Fibonacci retracement. A reversal at this level could lead the price toward the 1st support at 0.78.58, a swing low support.

Alternative Scenario:

If the price breaks above the pivot, it could rise toward the 1st resistance at 0.8064, a swing high resistance.