USDCHF, H4 is testing our Pivot point, potential for a drop.

Description
Price is testing our Pivot point at 0.88760, which is in line with our 61.8%, 76.4% Fibonacci retracement, 78.6% Fibonacci extension and horizontal graphical overlap. We could potentially see price drop towards our 1st support level at 0.88340, in line with 61.8% fibonacci extension and 78.6% fibonacci retracement. It is worth noting that price is trending under the EMA (55) and descending trendline.

Pivot: 0.88760
Why we like it:
61.8%, 76.4% Fibonacci retracement, 78.6% Fibonacci extension and horizontal graphical overlap

1st Support: 0.88340
Why we like it:
61.8% fibonacci extension and 78.6% fibonacci retracement.

1st Resistance: 0.88908
Why we like it:
100% Fibonacci extension, 78.6% Fibonacci retracement and horizontal graphical resistance.

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