Price has bounced from our Pivot point of 0.71563, which is in line with 78.6% Fibonacci retracement, 88.6% fibonacci extension and ascending trendline. A potential rise from here towards our first resistance level of 0.72388, in line with the 61.8% fibonacci retracement. Do note that price is trending above the ascending trendline, in line with our bullish analysis.
Description:
Pivot: 0.71563
Why we like it:
78.6% Fibonacci retracement, 88.6% fibonacci extension and ascending trendline
1st Support: 0.70881
Why we like it:
127% fibonacci retracement and ascending trendline support.
1st Resistance: 0.72388
Why we like it:
61.8% fibonacci retracement
Trading FX & CFDs carries high risk.
Description:
Pivot: 0.71563
Why we like it:
78.6% Fibonacci retracement, 88.6% fibonacci extension and ascending trendline
1st Support: 0.70881
Why we like it:
127% fibonacci retracement and ascending trendline support.
1st Resistance: 0.72388
Why we like it:
61.8% fibonacci retracement
Trading FX & CFDs carries high risk.