Daily Pivots: (S1) 0.8750; (P) 0.8807; (R1) 0.8886; More…
Focus is now on 0.8863 minor resistance. Break there will suggest completion of whole decline from 0.9499. Intraday bias will be turned back to the upside for retesting 0.9499. On the downside, through, break of 0.8681 will resume the fall towards 0.8276/82 key support zone.
In the bigger picture, up trend from 0.6935 (2015 ) should still be in progress. Next target is 61.8% projection of 0.6935 to 0.9263 from 0.8276 at 0.9715. Initial resistance could be seen around there as it’s close to 0.9799 (2008 high). In any case, medium term outlook will stay bullish as long as 0.8276 support holds, even in case of deep pull back.
