Type: Bullish Bounce
- Resistance: 1.0947
- Pivot: 1.08102
- Support: 1.06461
EURUSD price is near a key pivot. We see the potential for a bullish bounce from our pivot level of 1.08102 in line with 161.8% Fibonacci extension towards our 1st resistance level of 1.09381 in line with a 38.2% Fibonacci retracement and 61.8% Fibonacci projection. Our bullish bias is supported by the stochastic indicator whereby price is trading at support level.
Alternatively, price might continue to drop towards the 1st support level of 1.06461 which is a key graphical swing low support.