Price is approaching our first resistance at 127.70 (horizontal overlap resistance, 23.6%, 38.2% Fibonacci retracement, 100% Fibonacci extension) and a strong reaction might occur below this level, pushing price down to our major support at 126.26 (horizontal overlap support, 100% Fibonacci extension76.5% Fibonacci retracement). RSI (21) is also seeing facing bearish pressure from our resistance line and is approaching our resistance where a reaction off this level might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.