BIAS: There seems to be risk of seeing 0.9310-30 before losses to 0.9197-20
MAIN ANALYSIS: Price remained below the 0.9310-15 area for losses back to the 0.9283 low and then into the 0.9253-67 projection area. This still has potential for the correction to reach the 0.9310-15 and max 0.9330 area before losses retest the 0.9263 low (approx) and later follow-through to the 0.9197-20 area. From here we should see a much deeper correction higher.
COUNTER ANALYSIS: Only a break back above the 0.9355 area would confuse and risk a retest of 0.9394-06… Above there note the 0.9442 and 0.9477 levels.
For more information regarding the support & resistance and medium term outlook please see the attached PDF file.
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