Description: Price is testing our Pivot point at 1.35416, in line with 61.8%, 78.6% Fibonacci retracement and horizontal graphical area. Where we could potentially see a breakout towards our 1st resistance level at 1.37051. It is worth noting that price is trending above the ascending trendline, as well as the Ichimoku cloud, which are showing bullish pressure in line with our analysis. Lastly, Stochastics is showing bullish momentum where price has previously reacted off the 22% level.
Pivot: 1.35416 Why we like it: 61.8%, 78.6% Fibonacci retracement and horizontal graphical area
1st Support: 1.33719 Why we like it: 61.8% Fibonacci retracement, 100% Fibonacci extension and horizontal graphical support area.
1st Resistance: 1.37051 Why we like it: -27% Fibonacci retracement and 88% Fibonacci extension