Daily Pivots: (S1) 0.8031; (P) 0.8052; (R1) 0.8076; More….
Immediate focus is now on 0.7984 support with current decline. Break there will resume the fall from 0.8170 to retest 0.7910 support first, and then retest of 0.7871 low. Risk will now stay on the downside as long as 0.8071 resistance holds, in case of recovery.
In the bigger picture, long term down trend from 1.0342 (2017 high) is still in progress. Next target is 100% projection of 1.0146 (2022 high) to 0.8332 from 0.9200 at 0.7382. In any case, outlook will stay bearish as long as 0.8475 resistance holds.
