Price is facing bearish pressure as it continues to hold below the moving average resistance in line with our bearish bias. We expect a medium probability bearish drop from our pivot towards our 1st support at 1.254571. Otherwise, a break above the pivot should see price swing towards 1st resistance at 1.25985. It is worth noting that MACD is also holding below the 0 line as well.
Pivot: 1.25518
Supporting Points:
38.2%, 61.8% Fibonacci retracement, 100% Fibonacci extension and graphical pullback resistance
1st Support: 1.24571
Supporting Points:
-61.8% Fibonacci retracement and 78.6% Fibonacci extension
1st Resistance: 1.25985
Supporting Points:
61.8% Fibonacci retracement and graphical swing high resistance
Trading FX & CFDs carries high risk.
Pivot: 1.25518
Supporting Points:
38.2%, 61.8% Fibonacci retracement, 100% Fibonacci extension and graphical pullback resistance
1st Support: 1.24571
Supporting Points:
-61.8% Fibonacci retracement and 78.6% Fibonacci extension
1st Resistance: 1.25985
Supporting Points:
61.8% Fibonacci retracement and graphical swing high resistance
Trading FX & CFDs carries high risk.