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

Description
Price is testing our Pivot point at 0.88464 which is in line with our 23.6% Fibonacci retracement and horizontal graphical overlap. We could potentially see price drop towards our 1st support level at 0.88088, in line with 100% fibonacci extension and 127% fibonacci retracement. It is worth noting that price is trending under the EMA (34) and Ichimoku cloud.

Pivot: 0.88464
Why we like it:
23.6% Fibonacci retracement and horizontal graphical overlap

1st Support: 0.88088
Why we like it:
100% fibonacci extension and 127% fibonacci retracement.

1st Resistance: 0.88775
Why we like it:
61.8% Fibonacci extension, 88% Fibonacci retracement and horizontal graphical resistance.

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