Hello traders,
Using the trend based Fib extension on the daily timeframe I extended the possible Fib levels. However we are also seeing a bearish divergence on the RSI so look for the support zones for short term. We are currently trading in an upward channel which is also being supported by a Fib level at $1.04 USD. The next level below if both the channel and Fib level break is around 80 cents whereas breaking upward of the channel we have around $1.43 USD.
Using the trend based Fib extension on the daily timeframe I extended the possible Fib levels. However we are also seeing a bearish divergence on the RSI so look for the support zones for short term. We are currently trading in an upward channel which is also being supported by a Fib level at $1.04 USD. The next level below if both the channel and Fib level break is around 80 cents whereas breaking upward of the channel we have around $1.43 USD.