Description: Price is under our Pivot point at 1.25426, which is in line with 38.2%, 23.8% Fibonacci retracement and 61.8% fibonacci extension. We could potentially see price drop towards our 1st support level at 1.24854, a fibonacci confluence. It is worth noting that price is trending under the moving average, in line with our bearish analysis.
Pivot: 1.25426 Why we like it: 38.2%, 23.8% Fibonacci retracement and 61.8% fibonacci extension
1st Support: 1.24854 Why we like it: -27% Fibonacci retracement and 127% fibonacci extension
1st Resistance: 1.27460 Why we like it: 50% and 78.6% Fibonacci retracement.