Preference:
Price is currently at the horizontal support level, we can expect price to bounce from there in line with 61.8% Fibonacci projection towards 1st Resistance in line with 50% Fibonacci retracement and 100% Fibonacci projection. Our bullish bias is further supported by the RSI indicator where there is a bullish divergence identified.

Alternative Scenario:
Alternatively, price could push further down to the 1st Support in line with 78.6% Fibonacci projection.

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