The Fib math has the target zone at 1.05 area, and it looks like the pullback did start from there . But I wanted to show the target zone above 1.05 that might also be in play. IF we see an extended rally pattern, another subwave higher, it gets into testing that 1.10-1.20-1.30 area, there are targets including 1.50 in the larger pattern if the momentum taks it there. but the first examination ,for me, is to measure what the rally has done so far. and the Fibonacci math is sharp on this one. The First wave up from the 46 cent Bottom peaked at 68 cents. The Fib projection measurement comes from that First wave. and the target becomes 1.03/1.05 area
The pullback has already been happening from that 1.05 so IF that pullback has more downwave to go, I'm looking for resistance right here around 95 cents to turn downward again. maybe a retest of 80 cents. 75 cents would be a full retrace.(72-76-80-83-88)
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Now,overhead to the next higher target level where other magnetic points are waiting. pivot at 1.14 pivot at 1.64, thats the playing field overhead. 1.25 area is a math target but its been a decent rally already. Stochastic is overbought. and are there key moving averages in this toppy zone. the 50 ma is waiting as a barrier.
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