[B]Bias: [/B] There seems to be room for losses to 0.9484-08 at least.
The 0.9603-14 area gave way and triggered losses. This opens up a few alternatives but I'm not sure this means a resumption of the larger downtrend yet. For the moment I feel there is still downside risk for losses to move down through 0.9534 and into the 0.9484-08 area. Take care here as this could form a base if a larger sideways range is going to develop.
Breach would extend losses to the 0.9445 low at least... Then note 0.9367-87 and 0.9333.
To get this back on a positive move higher we'll need a break above 0.9615-33. If this occurs directly then a move back to the 0.9712-20 peaks is possible. If this occurs after the 0.9484-08 area is tested then a lower peak is due.
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