The sharp decline from marginal new highs of 1.4160 to test but thus far hold 1.3935 channel sup in enough in the short term. This would allow for a rally in an attempt to renew the uptrend to a potential 1.4270 target. However, be way of a failure at the 50 percent retracement target of 1.4050 and a loss of 1.3935 to offer a second leg of correction to the recent 1.3775 base. A full pullback to fail the 1.4160 high will probably force shallow 1.3935 to 1.4150 range trade before a final new high of 1.4270 in a flat consolidation pattern.
Link to this comment:
All Comments (0)