#EURUSD retesting breakout trendline, potential for a bounce!

Price is reacting at our pivot level at 1.18480 which is in-line with 23.6% Fibonacci retracement level, 100% Fibonacci extension level and trendline support. Price could potentially swing towards resistance at 1.19195, in-line with 100% Fibonacci retracement level, 161.8% Fibonacci extension level and horizontal overlap resistance.
Alternatively, price could drop to support at 1.18000, which coincides with 50% Fibonacci retracement level, 78.6% Fibonacci extension level and horizontal overlap support. RSI is also at horizontal trendline support where previous bounces occurred.

Pivot:
1.18480

Why we like it:
23.6% Fibonacci retracement level, 100% Fibonacci extension level and trendline support

1st Support:
1.18000

Why we like it:
50% Fibonacci retracement level, 78.6% Fibonacci extension level and horizontal overlap support

1st Resistance:
1.19195

Why we like it:
100% Fibonacci retracement level, 161.8% Fibonacci extension level and horizontal overlap resistance

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