Type : Bullish Rise
Resistance : 138.35
Pivot: 137.05
Support : 135.30
Preferred Case: On the H4, with the price moving within the ascending channel and above ichimpku cloud, we have a bullish bias that the price may rise from the pivot at 136.89, which is in line with the overlap resistance to the 1st resistance at 138.29, where the swing high is.
Alternative scenario: Alternatively, price could drop to the 1st support at 135.31, where the 23.6% fibonacci retracement and swing low support are.
Fundamentals: The small but meaningful rise in the US 2-year yield contributed to the rise of USD.
Resistance : 138.35
Pivot: 137.05
Support : 135.30
Preferred Case: On the H4, with the price moving within the ascending channel and above ichimpku cloud, we have a bullish bias that the price may rise from the pivot at 136.89, which is in line with the overlap resistance to the 1st resistance at 138.29, where the swing high is.
Alternative scenario: Alternatively, price could drop to the 1st support at 135.31, where the 23.6% fibonacci retracement and swing low support are.
Fundamentals: The small but meaningful rise in the US 2-year yield contributed to the rise of USD.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results