On the H1 time frame, prices are facing bearish pressure from the resistance at 0.6750, in line with the H4 supply zone, graphical resistance zone and 78.6% Fibonacci retracement. A pullback to the resistance zone at 0.6750 presents an opportunity to play the drop to the next support target at 0.6670, which coincides with the graphical resistance-turned-support level and Fibonacci confluence levels. Stochastic is testing resistance at 94.50 as well where we could see a reversal below this level.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.