The old polarity zone at 1.3420/50 that was broken yesterday is now new resistance and is already being testedthis morning. The breakdown below support and the up channel break represent an important trend change inEuro. From a wave perspective, we still suspect that we are in the nascent stages of wave-1 of (3). (daily)S/t, recent lows at 1.3442/49 are now expected to cap any further upside as the retracement of the latest sell-offhas already reached the 61.8% level. Near-term support is 1.3389 but if wave-3 is unfolding a break of that levelwill quickly carry prices to test yesterday’s 1.33 lows. (hourly)Levels: Support – 1.3389, 1.3296, 1.3255 Resistance – 1.3442, 1.3449, 1.3501
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