Price is above 1st support at 1.64878 in line with 127% Fibonacci retracement and 127.2% Fibonacci extension. It could potentially bullish from 1st support at 1.64878 in line with 127% Fibonacci retracement and 127.2% Fibonacci extension to 1st resistance at 1.69271 in line with 61.8% Fibonacci retracement and 61.8% Fibonacci extension. Our bullish bias is further supported by price is seeing a bullish divergence in RSI . Otherwise price may continue to bearish to 2nd support at 1.63224 in line with -27.2% Fibonacci retracement and 200% Fibonacci extension .
Trading Recommendation
Entry: 1.6478
Reason for Entry:
127% Fibonacci retracement and 127.2% Fibonacci extension.
Take Profit: 1.69271
Reason for Take Profit:
61.8% Fibonacci retracement and 61.8% Fibonacci extension
Stop Loss: 1.63224
Reason for Stop Loss:
-27.2% Fibonacci retracement and 200% Fibonacci extension.
