Description Price is testing our Pivot of 104.337, which is in line with 127%, 61.8% Fibonacci retracement,127% fibonacci extension and horizontal graphical overlap, where we could see a potential rise from this level to our first resistance level of 104.550. If price fails to break above our pivot, we could potentially see a swing down towards our first support level of 104.100.
Pivot: 104.337 Why we like it: 127%, 61.8% Fibonacci retracement,127% fibonacci extension and horizontal graphical overlap
1st Support: 104.100 Why we like it: 127% Fibonacci retracement, 100% fibonacci extension and horizontal graphical support.
1st Resistance: 104.550 Why we like it: 161.8% fibonacci extension and 161.8% fibonacci retracement. Trading FX & CFDs carries high risk.