Type: Further Bearish Downside

Pivot: 1.17480

Resistance: 1.1778

Support: 1.16635

Preference: Price is approaching pivot where we may potentially see bearish pressure towards the 1st Support, in-line with 23.6% Fibonacci Retracement and 61.8% Fibonacci Extension

Alternative Scenario: If price continue to bounce above the pivot, we may see it swing towards 1st Resistance, in-line with 38.2% Fibonacci Retracement and 100% Fibonacci Extension