Since the lows were formed at 1.3145, the chart has managed a 3-wave retracement towards 1.3525. The 61.8% retracement of the 3rd wave from 1.3240/1.3525 comes in at this morning’s lows near 1.3345. The 100-hour MA is just below there at 1.3335 and the hourly trendline is at 1.3320 presently. Bulls can buy ahead of this support with tight stops below. Bears should wait for a break of the support levels, then sell rallies with stops above 1.3525.
