[B]Bias: [/B] While 0.9304-13 (max 0.9649) caps the structure still points lower.
Yesterday's correction edged a little higher than I had wanted but I feel that this still has a basic bearish structure still. Ideally now the
0.9604-13 area should cap and extend losses through the 0.9541-75 area and back towards the 0.9462 low at least. A lower intermediate target is at 0.9400-22 which should cause a correction. (NB. I am prepared for this decline to be slower than the rally in EURUSD.) However, do also note the lower targeted support at 0.9335-45.
Only an earlier reversal back above 0.9650-55 would cause yet another rethink. There is then some resistance at the 0.9665-85 congestion area and then higher at 0.9719 followed by 0.9759-69. I suspect that would cause a correction if seen. Next resistance is at 0.9791 and 0.9839-71.
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