The price has taken off to the next target resistance area at the cluster of highs. from July 10 to July 19. The July 17 high at 1.2316 has been equaled. Left is 1.2322 and 1.2333. ON the downside, the 1.2284-92 is the 38.2%-50% of the last leg higher. The 1.2286 was the last high and the June 1 low. So far, the correction off the high has held this level.
In order to consider a further corrective move, the 1.2286 level has to be breached. If not, guess what? The longs remain in firm control. ON a break 1.2245-55 would be the next downside target. Shorts getting no love so far.
