Current level at 09:52 CET is 1.5438, close to the daily pivot point level of 1.5443 and having managed to stage consecutive lower lows over the past 3 days. Levels to watch on the downside are the Fibo 38.2 percent retracement at 1.5365, measured over the 1.4311 - 1.6017 range, followed by the daily Ichimoku cloud base at 1.5317. Daily standard error bands are poised to the downside while the 14 day ADX is rising, which suggests that the downside is in the course of gathering momentum. Pivot point related support levels for today are set at 1.5401 and then 1.5379. Resistance levels are at 1.5465 and then 1.5507.
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