Price is holding above the ascending trendline, and has just bounced from our first support at 1.06277, which is in line with our 161.8% Fibonacci extension and horizontal swing low support. It could potentially rise further to our first resistance at 1.06663, in line with our 61.8% Fibonacci extension, 61.8% Fibonacci retracement and horizontal swing high resistance. It is also worth noting that the RSI has just bounced from the support level at 42.78.
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.