Bearish Momentum

Key Levels:
Resistance: 134.850
Pivot: 132.575
Support: 130.275

Preferred Case:
On the H1, with price moving below the ichimoku cloud, we have a bearish bias that price will drop to the pivot at 132.575 in line with the swing low support and 100% fibonacci projection. Once there is downside confirmation, we could expect price to drop to the 1st support at 130.275 in line with the -61.8% fibonacci expansion and horizontal swing low support.

Alternative Scenario:
Alternatively, price may rise to the 1st resistance at 134.850 where the pullback resistance is.

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