Preference:

Prices are consolidating in a parallel channel. We see potential for a dip from our Pivot at 68.48 in 38.2% and 23.6% Fibonacci retracement towards our 1st support at 64.678 which is an area of Fibonacci confluences.

Alternative Scenario:

Alternatively, prices may climb towards our 1st resistance at 69.834 in line with 61.8% and 38.2% Fibonacci retracement.

 

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