Type

Bearish Reversal

Pivot: 1.15704

Support: 1.15316

Resistance: 1.15853

Preference:

We are expecting a dip from our pivot level at 1.15704 which is in line with 38.2% Fibonacci retracement level horizontal overlap resistance to support at 1.15316, which is in line with 50% Fibonacci extension level horizontal swing low resistance.

Alternative Scenario:

Alternatively, price may break structure at the pivot and rise up to our resistance at 1.15853, which coincides with 50.0% Fibonacci retracement level horizontal swing high resistance .