Preference:

Prices are on bearish momentum and have reached a pivot at 1.32934 which is an area of Fibonacci confluences. We see the potential for a bounce towards our 1st resistance at 1.33524 in line with 23.6% Fibonacci retracement.

Alternative Scenario:

Alternatively, prices may dip towards our 1st support at 1.32533 in line with 100% Fibonacci extension.

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