Price is facing bearish pressure from our first resistance, in line with our 161.8% Fibonacci extension and horizontal swing high resistance, where it could potentially drop further to our first support, in line with our 161.8% Fibonacci extension, 78.6% Fibonacci retracement and horizontal swing low support. It is also worth noting that the Stochastic indicator is also showing bearish pressure as it is testing the resistance level at 93.97.
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Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.