On the H1 time frame, prices are approaching the support zone at 1627.20, in line with the 100% Fibonacci extension where we could see further upside to the resistance zone at 1645.50. The 1645.50 resistance zone coincides with the graphical resistance and 38.2% Fibonacci retracement. Stochastic is approaching support as well where we could see a bounce above this level, in line with 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.