BXY is approaching our first resistance at 7.0216 (horizontal overlap resistance, 61.8% Fibonacci retracement , 61.8% Fibonacci extension ) where a strong drop might occur below this level pushing price down to our major support at 6.9631 (61.8% Fibonacci retracement , horizontal swing low support).
Stochastic is also approaching resistance where we might see a corresponding drop in price.
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This analysis is provided as general market commentary and does not constitute investment advice.