Price is testing below our pivot level at 109.863 which is in line with 78.6% Fibonacci retracement level. Price can potentially take support at 109.443, which is in line with -27.2% Fibonacci retracement level, 100% Fibonacci extension level & 161.8% Fibonacci retracement level. Alternatively, price may rise up to our resistance at 110.317, which coincides with 61.8% Fibonacci retracement level & horizontal swing high resistance . This is further supported by price trending under the descending trendline
Pivot:
109.863
Why we like it:
78.6% Fibonacci retracement level
1st Support:
109.443
-27.2%Fibonacci retracement level, 100% Fibonacci extension level & 161.8% Fibonacci retracement level
1st Resistance:
110.317
61.8% Fibonacci retracement level & horizontal swing high resistance
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.