Description Price is reacting below our pivot level at 1.24971 which is in line with 127.2% Fibonacci extension level, 61.8% Fibonacci retracement level & horizontal swing high resistance. Price can potentially take support at 1.24124, which is in line with 78.6% Fibonacci retracement levelhorizontal swing low support. Alternatively, price may rise up to our resistance at 1.25582, which coincides with 78.6% Fibonacci retracement levelhorizontal overlap resistance . This is further supported by how price is likely to reverse off the Stochastic resistance level.
Pivot: 1.24971 Why we like it: 127.2% Fibonacci extension level, 61.8% Fibonacci retracement level & horizontal swing high resistance
1st Support: 1.24124 Why we like it: 78.6% Fibonacci retracement levelhorizontal swing low support
1st Resistance: 1.25582 Why we like it: 78.6% Fibonacci retracement levelhorizontal overlap resistance
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