Price is facing bullish pressure as it continues to hold above both the ascending trendline support, in line with our bullish bias. We could potentially see a bounce at our 1st support level at 1.54635, which is in line with our 61.8% Fibonacci retracement and 161.8% Fibonacci extension, and a further rise towards our 1st resistance level at 1.55420, which is in line with our 50% Fibonacci retracement and 78.6% Fibonacci extension. It is worth noting that the MACD is above the 0 line, showing bullish pressure in line with our analysis.
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Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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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.