Preference:

Prices have recently broken out of our ascending trendline and have the potential to climb from our Pivot at 113.44 in line with 23.6% Fibonacci retracement and climb higher towards our 1st resistance at 114.202 which is an area of Fibonacci confluences.

Alternative Scenario:

Alternatively, prices might dip towards our 1st support at 112.978 in line with -27.2% Fibonacci retracement and 127.2% Fibonacci extension.

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