Preference:

Prices are on a bearish momentum and is potentially forming a head and shoulders pattern. We see dip from our Pivot at 114.303 in line with 50%, 78.6% and 100% Fibonacci extension towards our 1st support at 113.763 in line with 50% and 78.6% Fibonacci retracement.

Alternative Scenario:

Alternatively, prices may climb higher towards our 1st resistance at 114.564 in line with 100% Fibonacci extension

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