#EURUSD approaching pivot, potential for a drop!

Price is reacting below our pivot level at 1.18272 which is in line with 23.6% Fibonacci retracement level. Price can potentially take support at 1.17271, which is in line with 78.6% Fibonacci retracement level. Alternatively, price may rise up to our resistance at 1.18512, which coincides with 50.0% Fibonacci retracement level horizontal swing high resistance . This is further supported by how MACD is holding below the 0 line.

Pivot:
1.18272
Why we like it:
23.6% Fibonacci retracement level

1st Support:
1.17271
Why we like it:
78.6% Fibonacci retracement level

1st Resistance:
1.18512
Why we like it:
50.0% Fibonacci retracement level horizontal swing high resistance

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