Price is approaching our first support at 110.33 (horizontal swing low support, 100% Fibonacci extension, 61.8% Fibonacci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 111.38 (horizontal overlap resistance, 61.8% Fibonacci extension, 38.2% Fibonacci retracement). Stochastic (89,5,3) is also approaching our support where a bounce off this level might see a corresponding rise in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.