EURUSD testing pivot. Potential for a drop.

Price is testing our pivot, in line with our graphical swing high resistance and 23.6% Fibonacci extension. We expect a medium probability bearish drop from our pivot towards our 1st support at 1.21354. Otherwise, a break above the pivot should see price swing towards 1st resistance at 1.21914. It is worth noting that the Stochastic indicator is approaching the upper resistance level at 93.29 where it has reacted from before.

Pivot: 1.21716
Supporting Points:
23.6% Fibonacci extension and graphical swing high resistance

1st Support: 1.21354
Supporting Points:
61.8% Fibonacci retracement, 61.8% Fibonacci extension and ascending trendline support

1st Resistance: 1.21914
Supporting Points:
61.8% Fibonacci extension and -27.2% Fibonacci retracement

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