Price is testing our pivot, in line with our graphical swing high resistance and 23.6% Fibonacci extension. We expect a medium probability bearish drop from our pivot towards our 1st support at 1.21354. Otherwise, a break above the pivot should see price swing towards 1st resistance at 1.21914. It is worth noting that the Stochastic indicator is approaching the upper resistance level at 93.29 where it has reacted from before.
Pivot: 1.21716 Supporting Points: 23.6% Fibonacci extension and graphical swing high resistance
1st Support: 1.21354 Supporting Points: 61.8% Fibonacci retracement, 61.8% Fibonacci extension and ascending trendline support