Description:
Price is bouncing off our Pivot point of 0.70224, which is in line with 50%, 88%, 127% Fibonacci retracement and horizontal graphical overlap. A bounce from here could see it rise to our first resistance level of 0.70895, in line with 78.6% Fibonacci extension and horizontal swing high resistance. It is worth noting that price is trending under a descending trendline in line with our profit target.
Pivot: 0.70224
Why we like it:
50%, 88%, 127% Fibonacci retracement and horizontal graphical overlap
1st Support: 0.69799
Why we like it:
61.8%, 161.8% Fibonacci retracement, 127% Fibonacci extension and horizontal graphical overlap
1st Resistance: 0.70895
Why we like it:
78.6% Fibonacci extension and horizontal swing high resistance
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.