Type: Bullish BounceKey Levels:Resistance: 0.92986Pivot: 0.92224Support: 0.91622Preferred Case:On the H4, with price expected to bounce off the support of the stochastics indicator and the descending channel, we have a bias that price will rise to our 1st resistance at 0.92986 in line with the 50% Fibonacci retracement from our pivot at 0.92224 in line with the horizontal overlap support and 127.2% Fibonacci extension.Alternative Scenario:Alternatively, price may break pivot structure and head for support at 0.91622 in line with the swing low support.
Source: Tickmill
