The Daily Forecaster

[B]Bias: [/B] On balance this still looks bullish while 0.9090 supports - above 0.9127-42 extends to 0.9173 at least

The 0.9023 Fibonacci support held well yesterday and the rally from there has been very positive. This looks like extending to the 0.9142 high at least and if there is any chance of finding a continuation pattern around the 0.9127-42 area it will assist in generating a buying level. However, we do have to be careful at the next closest resistance at 0.9173. There is a valid projection here and is just below the 0.9180 corrective high so I can't rule out a reaction here. Ideally it should be brief and allow the rally to extend to the 0.9198-0.9214 resistance zone and I favor the higher level. However, here I will expect a correction if seen directly. Next resistance is at 0.9241-66.

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