Type: Bearish ContinuationKey Levels:Resistance: 127.265Pivot: 118.174Support: 105.976Preferred Case:With price expected to reverse off the stochastics indicator, we have a bearish bias that price will drop to our 1st support at 105.976 in line with the 61.8% fibonacci retracement and horizontal swing low support from our pivot at 118.174 in line with the horizontal overlap resistance and 127.2% Fibonacci extension.Alternative Scenario: Alternatively, price may break pivot structure and head for 1st resistance at 127.265 in line with the horizontal swing high resistance.Fundamentals:No major news
Source: Tickmill
