Prices are hovering above a key support zone at 0.6200 on the H4 timeframe. A throwback to this support zone, which coincides with the 23.6% Fibonacci retracement, could provide the bullish acceleration to the resistance zone at 0.6280, in line with the 78.6% Fibonacci extension. Price is holding above the 20 EMA and Ichimoku cloud, supporting our bullish 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.