The quick reversal from 1.3938 and break of 1.3843 argues that rebound from 1.3730 has completed. That also revive the bearish case that such rebound is merely a corrective move. Intraday bias is back on the downside for retesting 1.3730 first. Break there will extend the fall from 1.4247 to retest 1.3480 low. For now, risk will stay on the downside as long as 1.3938 resistance holds, in case of recovery.
In the bigger picture, the pattern from 1.4791 (2025 high) is still extending, with fall from 1.4247 as the third leg. Firm break of 1.3480 will pave the way to 100% projection of 1.4791 to 1.3480 from 1.4247 at 1.2936. For now, medium term risk will stay on the downside as long as 1.4247 resistance holds, in case of rebound.
