Current level at 10:50 CET is 1.5583, trading below the daily pivot point level of 1.5730. The long awaited correction to the downside is now unfolding and the first downside target is the daily Ichimoku cloud top, currently at 1.5425, followed by the Fibo 38.2 percent retracement level of 1.5360, measured over the recent 1.4311 - 1.6020 range. Pivot point related support levels for today are to be found at 1.5578 and then 1.5485. Resistance levels are at 1.5824 and then 1.5977.
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