Price broke down and retested the ascending trendline support-turned-resistance is approaching pivot level at 0.70850 which is in line with 23.6% Fibonacci retracement level, 61.8% Fibonacci extension level and horizontal overlap support. If price could breakdown below pivot, it could potentially push down further to support at 0.70115, in-line with 50% Fibonacci retracement level, 61.8% Fibonacci extension level and 200MA.
Alternatively, price could swing towards resistance at 0.71700, in-line with 100% and 127.2 Fibonacci retracement level and swing high resistance.
Pivot:
0.70850
Why we like it:
23.6% Fibonacci retracement level, 61.8% Fibonacci extension level and horizontal overlap support
1st Support:
0.70115
50% Fibonacci retracement level, 61.8% Fibonacci extension level and 200MA
1st Resistance:
0.71700
100% Fibonacci retracement level and 127.2% Fibonacci extension level
Trading FX & CFDs carries high risk.
Alternatively, price could swing towards resistance at 0.71700, in-line with 100% and 127.2 Fibonacci retracement level and swing high resistance.
Pivot:
0.70850
Why we like it:
23.6% Fibonacci retracement level, 61.8% Fibonacci extension level and horizontal overlap support
1st Support:
0.70115
50% Fibonacci retracement level, 61.8% Fibonacci extension level and 200MA
1st Resistance:
0.71700
100% Fibonacci retracement level and 127.2% Fibonacci extension level
Trading FX & CFDs carries high risk.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.