Bearish Reversal

Key Levels:
Resistance: 1.05294
Pivot: 1.05036
Support: 1.04236

Preferred Case:
Price is abiding to the descending trendline resistance on the daily, signifying an overall bearish momentum. We can expect price to drop from the pivot in line with 78.6% Fibonacci projection to the 1st Support in line with 50% Fibonacci retracement and 61.8% Fibonacci projection.

Alternative Scenario:
Alternatively, price could push up to 1st Resistance in line with 100% Fibonacci projection.