Prices are on bullish momentum and abiding to our ascending trendline. We see potential for a bounce from our Pivot at 114.216 in line with 100% Fibonacci retracement, 100% Fibonacci extension and 78.6% Fibonacci retracement towards our 1st resistance at 114.877 in line with 161.8% Fibonacci retracement and 161.8% Fibonacci Projection. Prices are trading above our Ichimoku Clouds, further signalling bullish momentum.

Alternative Scenario:

Alternatively, prices will dip towards our 1st support at 114.047 in line with 100% Fibonacci retracement.

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