Type: Bullish BounceKey Levels:Resistance: 1.09215Pivot: 1.07694Support: 1.0711Preferred Case:On the H4, with price expected to bounce off the stochastic indicator, we have a bullish bias that price will rise to our 1st resistance at 1.09215 where the horizontal swing high resistance and 38.2% Fibonacci retracement is from our pivot of 1.07694 in line with the horizontal swing low support.Alternative Scenario:Alternatively, price may break pivot structure and head for 1st support where the 127.2% Fibonacci extension and horizontal swing low support is at 1.0711.
Source: Tickmill
