Preference:

Prices are on bearish momentum and consolidating in a parallel channel. We see potential for a dip from our Pivot at 23.6%, 50% and 127.2% Fibonacci extension towards our 1st support at 0.88 in line with 61.8% Fibonacci extension.

Alternative Scenario:

Alternatively, prices might climb higher towards our 1st resistance at 1.03 in line with 78.6% Fibonacci retracement

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