Preference:

Price is trading in an ascending channel and near pivot level of 1.2846 which is also 38.2% Fibonacci retracement. Price can potentially go to the 1st resistance level of 1.29389 which is also 78.6% Fibonacci retracement and 78.6% Fibonacci projection

Alternative Scenario:

Price can potentially dip to the 1st support level of 1.28035 which is also 38.2% Fibonacci retracement and 61.8% Fibonacci projection .

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