Our call has been for a choppy wave-(d) decline towards 1.10 where multiple targets align. The 1.10 level is where wave-(d) would equal wave-(b) x .618 which is common in coiling corrections. The target also allows for the current wave-c decline to meet symmetry with wave-a. Finally, channel supports further suggest that prices can stall at the 1.10 confluence zone. S/t, support today is 1.1054/39 and resistance going forward is 1.1095 to channel & pivot resistance at 1.11 & 1.1120. Conviction: Medium/High Levels: Support – 1.1054, 1.1039, 1.1000 Resistance – 1.1095, 1.11, 1.1120
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Nomura