Immediate focus is now on 0.8610/8 key support zone. Decisive break there will will revive the case of bearish trend reversal, and target 0.8466 fibonacci level. Nevertheless, firm break of break of 0.8686 resistance will bring further rally back to 0.8728 resistance.
In the bigger picture, focus is staying on 38.2% retracement of 0.8221 to 0.8863 at 0.8618. Strong rebound from there will retain medium term bullishness. Rise from 0.8221 should resume through 0.8863 at a later stage. Nevertheless, sustained break of 0.8618 will confirm that whole rise from 0.8221 has completed at 0.8863. Deeper decline should then be seen to 61.8% retracement at 0.8466 at least.
