Price is bouncing from our Pivot point at 0.77166, in line with 61.8%, 100% fibonacci extension and horizontal graphical overlap. Where we could potentially see a rise from our pivot towards our 1st resistance level at 0.77540, in line with 61.8% fibonacci retracement and 61.8%, 161.8% fibonacci extension and horizontal graphical overlap. Do note that stochastics is showing bullish pressure where price has previously bounced off the 27% level.
Pivot: 0.77166 Why we like it: 61.8%, 100% fibonacci extension and horizontal graphical overlap
1st Support: 0.76981 Why we like it: 127% fibonacci extension and horizontal graphical swing low.
1st Resistance: 0.77540 Why we like it: 61.8% fibonacci retracement and 61.8%, 161.8% fibonacci extension and horizontal graphical overlap Trading FX & CFDs carries high risk.