Prices have recently experienced and extreme dip and are currently testing our Pivot at 113.685 which is a graphical overlap and in line with 23.6% Fibonacci retracement. We see potential for upside towards our 1st resistance at 114.286 in line with 61.8% Fibonacci extension and 50% Fibonacci retracement.

Alternative Scenario:

Alternatively, prices might dip towards our 1st support at 113.048 which is an area of Fibonacci confluences.

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