Price is approaching our first resistance at 108.80 (horizontal overlap resistance, 100% Fibonacci extension, 38.2% Fibonacci retracement) and a strong reaction might occur below this level, pushing price down to our major support at 106.66 (horizontal overlap support, 100% Fibonacci extension, 38.2% Fibonacci retracement).
Stochastic (55,5,3) is also approaching our major resistance and seeing a bearish divergence. A reaction off this level might see a corresponding drop in price.
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