Price is facing bearish pressure as it continues to hold below the moving average resistance in line with our analysis. We expect a medium probability bearish drop from our pivot towards our 1st support at 1.25700. Otherwise, a break above the pivot should see price swing towards 1st resistance at 1.26539.
Pivot: 1.26229
Supporting Points:
61.8% Fibonacci retracement, 50%, 161.8% Fibonacci extension and graphical pullback resistance
1st Support: 1.25700
Supporting Points:
-27.2% Fibonacci retracement and 100% Fibonacci extension
1st Resistance: 1.26539
Supporting Points:
100% Fibonacci extension and graphical swing high resistance
Trading FX & CFDs carries high risk.
Pivot: 1.26229
Supporting Points:
61.8% Fibonacci retracement, 50%, 161.8% Fibonacci extension and graphical pullback resistance
1st Support: 1.25700
Supporting Points:
-27.2% Fibonacci retracement and 100% Fibonacci extension
1st Resistance: 1.26539
Supporting Points:
100% Fibonacci extension and graphical swing high resistance
Trading FX & CFDs carries high risk.