Yesterday prices reached the old 2013 neckline at .9281 as is so far reversing from this initial resistance level. The head & shoulders target is well above at .9503 but a small pullback from current levels can digest recent gains ahead of the next push. (daily) S/t, the sharp wave-ii rally has been satisfied and there are a cluster of Fibonacci retracements between .9245/08 that can contain any pullback today. An a-b-c decline from .9295 would alternate nicely with the sideways wave-ii. The channel break is further suggesting that a minor correction is underway. (hourly) Conviction: Med/High Trade: Long from .9086 b/o (sl raised to .9088) Levels: Support – .9244, .9225, .9208 Resistance – .9257, .9276, .9295
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Nomura