Preference:

Prices have recently broken out of our bullish trendline and is on bearish momentum. We see potential for a dip from our Pivot at 114.288 in line with 100% Fibonacci extension towards our 1st support at 113.391 in line with 61.8% Fibonacci extension and 23.6% Fibonacci retracement.

Alternative Scenario:

Alternatively, prices might climb higher towards our 1st resistance at 114.702 in line with 100% and 127.2% Fibonacci extension.

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