Type: Bullish Rise

Pivot: 110.127

Support: 109.789

Resistance: 110.443

Preference:

Price has recently tested our pivot at 110.127 at 61.8% Fibonacci retracement and has potential for further upside. Price could possibly climb higher towards our 1st resistance at 110.443 at 100% Fibonacci retracement and 100% Fibonacci extension within the channel. Indicators are showing potential bullish momentum.

Alternative Scenario:

Alternatively, Price May Dip Towards Our 1st Support At 109.789 At 23.6% Fibonacci Retracement. If Price Breaks Our 1st Support Level, It Might Break Out Of The Existing Channel.