Preference:

Price is approaching our pivot level at 1.15862 which is in line with horizontal overlap resistance. With price moving below the moving average, we expect to see price potentially dip to support at 1.15376, which is in line with horizontal swing low support.

Alternative Scenario:

Alternatively, price may rise up to our resistance at 1.16078, which coincides with 50.0% Fibonacci retracement level and horizontal swing high resistance .

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