Preference:

Prices appears to be consolidating in an inverse and shoulders pattern. We see potential for a climb from our Pivot 112.746 in line with 78.6%, 127.2% and 100% Fibonacci retracement towards our 1st resistance in line with 100%, 38.2% and 61.8% Fibonacci retracement.

Alternative Scenario:

Alternatively, prices can dip towards our 1st support at 112.317 in line with 127.2% and 161.8% Fibonacci projection.

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