The outlook here is negative again, for a sell-off towards 1.5900 support area. Key intraday resistance is projected at 1.6058, followed by the crucial area at 1.6115.
Current rebound above 1.5850 low should be considered corrective in nature, thus preceding next leg downwards, to 1.5750 major support. Initial intraday resistance is projected at 1.5950 and crucial on the upside is 1.6020 area.
Yesterday's break through 1.5950 signals a reversal at 1.5853 and current outlook is positive, for a tight test of 1.6120 resistance. Initial minor support is projected at 1.6000, followed by 1.5950.
Yesterday's corrective slide bottomed at 1.5987 and the upmove was renewed, performing a double test below 1.6120 resistance zone. My outlook here is positive above 1.6040 support area, for a break through 1.6120, en route to 1.62+. Crucial on the downside is 1.5987 low.
The uptrend here is intact, heading towards 1.3547 high and a break above the latter will target 1.3650 major resistance. Crucial on the downside is 1.3430 low and minor intraday support is projected at 1.3470.
Yesterday's dip to 1.6056 was the final leg of the minor consolidation pattern below 1.6148 and currently the uptrend is renewed, heading for a test of 1.6250-60 major resistance area. Initial minor support is projected at 1.6101 and crucial on the downside is 1.6056 low.
Yesterday's break through 1.3485 crucial low signals a reversal at 1.3579 and the outlook is already bearish, for a slide towards 1.3290. Key resistance on the upside is projected around 1.3470-80 area.
The intraday bias is slightly negative after the recent peak at 1.3560 and initial key support is projected at 1.3490. While the pair remains bid above 1.3490 the outlook here will be positive, for a rise towards 1.3650 major resistance.
Although 101.35 support zone is still intact, I expect a break through that area to initiate a slide for 100.42 major hurdle. Initial minor resistance is projected at 101.60.
The minor slide from 101.91 is already over with yesterday's low at 101.14, but I think there is still a chance for one more dip towards 100.50 before advancing higher, towards 103.70 high. My outlook here is negative, for a slide through 101.14, en route to 100.50. Crucial on the upside is 101.91.
The recent break through 101.91 high signals a renewal of the uptrend and the bias here is positive, for 102.47, en route to 103.70. Initial intraday support is projected at 101.90, followed by the crucial 101.14 low.
Yesterday's high at 102.60 sets the beginning of a minor consolidation pattern above 101.91 support, before next leg unfolds upwards, for 103.70 major resistance. Crucial on the downside is still 101.14.
The minor corrective pattern below 1.6370 was well bid at 1.6313 low and the uptrend has been renewed, reaching a new local high at 1.6441. The bias remains positive above 1.6385 intraday support, for next leg upwards, toward 1.6613 resistance area. Crucial on the downside is 1.6313 low.
The pair has entered a larger consolidation pattern after the recent peak at 1.6441 and my outlook here is bearish, for a slide through 1.6342, en route to 1.6240 break-out zone. Initial intraday resistance is projected at 1.6390, followed by the crucial peak at 1.6441.
Reversal has been confirmed at 103.36 and the sell-off that followed tested precisely the dynamic support around 101.91. My outlook here is bearish again, for a break through 102.21 crucial level, en route to 101.90 and 100.50. Initial intraday resistance is projected at 102.85.
Yesterday's rebound after 1.6326 low has been capped at 1.6403 resistance and my outlook here is negative, for a break through 1.6326, en route to 1.6240 major support.
