On the monthly chart, we have plotted Fib extension levels on – (A) Nov 2007 high – Jan 2009 low – July 2014 high & (B) July 2014 high – Apr 2015 low – June 2015 high.
The net result is we have two key support levels – 1.2590 (127.2% of B) and 1.2458 (61.8% of A). This is followed by 1.2217 (141.4% of B).