On the H4 time frame, prices are facing bearish pressure from the resistance zone at 0.9680, in line with the 61.8% Fibonacci retracement and graphical support-turned-resistance zone. We could see further downside below this zone to the support zone at 0.9550. Stochastic is showing bearish divergence as well where we could see further downside in prices.
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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.