On the H4, price is reacting below our pivot level at 1.146756 which is in line with horizontal swing high resistance, 161.8% Fibonacci extension level. We are biased that price will potentially drop to 1st support at 1.13869, which is in line with horizontal swing low support and 23.6% Fibonacci retracement. Alternatively, price may rise up to our 1st resistance at 1.15130, which coincides with the horizontal overlap resistance. This is further supported by how price is likely to reverse off the Stochastic resistance level.
Pivot:
1.146756
Why we like it:
Horizontal swing high resistance and 161.8% Fibonacci extension level
1st Support:
1.13869
Why we like it:
Horizontal swing low support and 23.6% Fibonacci retracement
1st Resistance:
1.15130
Why we like it:
Horizontal overlap resistance
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