Type:

Bullish Breakout

Resistance: 114.555

Support: 111.971

Pivot: 113.769

Preference:

Price have the potential to dip towards our intermediate support at 112.637 in line with 23.6% Fibonacci retracement, 61.8% Fibonacci extension and bullish trendline support. Prices have the potential to climb towards our 1st resistance at 114.559 in line with 127.2% Fibonacci extension.

Alternative Scenario:

Alternatively, if prices breaks our intermediate resistance and ascending trendline, it might dip towards our 1st support at 111.971 in line with 38.2% Fibonacci retracement.