Description: Price is testing our Pivot point at 104.023 which is in line with our 61.8% Fibonacci extension and 50% Fibonacci retracement and ascending trendline support. We could potentially see price rise towards our 1st resistance level at 104.500, in line with 61.8% fibonacci extension, 78.6% fibonacci retracement and descending trendline resistance. It is worth noting that price is trending within a squeezing triangle pattern.
Pivot: 104.023 Why we like it: 61.8% Fibonacci extension and 50% Fibonacci retracement and ascending trendline support
1st Support: 103.710 Why we like it: 78.6% fibonacci retracement and horizontal graphical support.
1st Resistance: 104.500 Why we like it: 61.8% fibonacci extension, 78.6% fibonacci retracement and descending trendline resistance Trading FX & CFDs carries high risk.