Price is facing bullish pressure as it continues to hold above both the Ichimoku cloud and ascending trendline support, in line with our bullish bias. We could potentially see a bounce at our 1st support at 0.92613, which is in line with our 61.8% Fibonacci retracement and 127.2% Fibonacci extension, and further upside towards our 1st resistance at 0.93295, in line with our 61.8% Fibonacci extension.

Trading Recommendation

Entry: 0.92613

Reason for Entry:

61.8% Fibonacci retracement, 127.2% Fibonacci extension and horizontal pullback support

Take Profit: 0.93295

Reason for Take Profit:

61.8% Fibonacci extension and horizontal swing high resistance

Stop Loss: 0.92086

Reason for Stop Loss:

Horizontal swing low support