On the H1 time frame prices are approaching the resistance at 0.6850, in line with the 61.8% Fibonacci retracement level and descending channel’s resistance where a pullback to this zone presents an opportunity to play the drop to the support target at 0.6780. Prices are holding below the 20 EMA as well, indicating bearish bias.
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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.