#EURUSD approaching pivot, potential for a rise!
Description
Price has broken above our pivot level at 1.16272 which is in line with 38.2% Fibonacci retracement levelhorizontal overlap support . We could potentially see a further rise from here towards 1.1672, which coincides with horizontal overlap resistance, 127.2% Fibonacci extension level. Finally, we can expect price to take support at 1.15869, which coincides with 61.8% Fibonacci retracement levelhorizontal overlap support . This is further supported by how price is now holding above the Ichimoku cloud support.
Pivot:
1.16272
Why we like it:
38.2% Fibonacci retracement levelhorizontal overlap support
1st Support:
1.15869
Why we like it:
61.8% Fibonacci retracement levelhorizontal overlap support
1st Resistance:
1.16720
Why we like it:
horizontal overlap resistance, 127.2% Fibonacci extension level
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