Type: Bullish BounceKey Levels:Resistance: 0.93967Pivot: 0.93013Support: 0.9228Preferred Case:On the H4, with price moving in an ascending channel and expected to bounce off the stochastics indicator, we have a bias that price will rise to our 1st resistance at 0.93967 in line with the 61.8% Fibonacci retracement from our pivot at 0.93013 in line with the horizontal overlap support and 50% Fibonacci retracementAlternative Scenario:Alternatively, price may break pivot structure and head for 1st support at 0.9228 in line with the horizontal overlap support and 78.6% Fibonacci retracement.
Source: Tickmill
