- Edited on October 20, 2021
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Preference:
Price may retest at our pivot level at 1.16314 which is in line with horizontal swing low support, 38.2% Fibonacci retracement level . We could potentially see a further rise from here towards 1st resistance at 1.16667, which coincides with our horizontal swing high resistance. Our bullish bias is further supported by the ascending channel.
Alternative Scenario:
Alternatively, we may see price break pivot structure and head for 1st support at 1.16212, which coincides with 50% Fibonacci retracement level and horizontal overlap support.