Preference:

Prices are on a bearish momentum and is consolidating in a parallel channel. We see potential for prices to dip from our Pivot at 113.896 in line with 61.8% Fibonacci retracement towards our 1st support at 113.245 which is an area of Fibonacci confluences.

Alternative Scenario:

Alternatively, prices might climb towards 1st resistance at 114.331 in line with 78.6% Fibonacci retracement and 100% Fibonacci extension.

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