Price is reacting below our pivot level at 1.13789 which is in line with 38.2% Fibonacci retracement level and horizontal overlap resistance. Price can potentially drop to 1st support at 1.11873, which is in line with 127.2% Fibonacci extension level and horizontal overlap support. Alternatively, price may rise up to our resistance at 1.14422, which coincides with 50.0% Fibonacci retracement level and horizontal overlap resistance . This is further supported by how price is likely to bounce off the RSI resistance level .
Pivot: 1.13789 Why we like it: 38.2% Fibonacci retracement level and horizontal overlap resistance
1st Support: 1.11873 Why we like it: 127.2% Fibonacci extension level and horizontal overlap support
1st Resistance: 1.14422 Why we like it: 50.0% Fibonacci retracement level and horizontal overlap resistance
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