Price is facing bullish pressure as it continues to hold above the ascending trendline support. We could potentially see a bounce at our 1st support level at 113.731 in line with our 38.2% Fibonacci retracement and 38.2% Fibonacci extension and a further rise towards our 1st resistance level at 114.699 in line with 127.2% Fibonacci retracement and 61.8% Fibonacci extension. Our bullish bias is further supported by how Price is holding above the Ichimoku cloud and RSI is abiding to an ascending trendline. Otherwise, Price may bearish to our 2nd support at 113.211 in line with 61.8% Fibonacci retracement and 61.8% Fibonacci extension .
Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.