Type: Bearish ContinuationKey Levels:Resistance: 19.85Pivot: 19.59Support: 19.25Preferred Case:Price is near to the key pivot level and it is on a bearish pressure. We see the potential for a bearish continuation from our pivot level of 19.59 which is in line with 50% Fibonacci retracement and 161.8% Fibonacci extension towards our 1st support level of 19.25 which is in line with 78.6% Fibonacci retracement.Alternative Scenario:Alternatively, price might break our pivot structure and head for 1st resistance level of 19.85 in line with 38.2% Fibonacci retracement and 61.8% Fibonacci projection.Fundamentals:No major news.
Source: Tickmill
