Description Price broke out of the descending trendline resistance, signifying an overall bullish momentum. We can expect price to bounce from pivot level at 0.92290 in line with 100% Fibonacci projection and 50% Fibonacci retracement towards 1st Resistance at 0.93040 in line with 127.2% Fibonacci projection. Our bullish bias is further supported by the price holding above the Ichimoku cloud. Alternatively, price could push down towards 1st Support at 0.91829 in line with 127.2% Fibonacci projection and 78.6% Fibonacci retracement.
Pivot: 0.91829 Why we like it: Horizontal overlap support ,100% Fibonacci projection and 50% Fibonacci retracement
1st Support: 0.91829 Why we like it: horizontal swing low support
1st Resistance: 0.93040 Why we like it: Horizontal overlap resistance and 127.2% Fibonacci projection