Bearish Momentum

Key Levels:
Resistance: 1.0790
Pivot: 1.0654
Support: 1.0428

Preferred Case:
On the H4, with price recently breaking the ascending trendline and moving below the ichimoku cloud, we have a bearish bias that price will drop from the pivot at 1.0654 in line with the 50% fibonacci retracement, to the 1st support at 1.0428 at the swing low in line with the 61.8% fibonacci retracement.

Alternative Scenario:
Alternatively, price may reverse off the pivot and rise to the overlap 1st resistance at 1.0790 at the multiple swing highs in line with the 78.6% fibonacci projection and 50% fibonacci retracement.

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