The correction of the initial wave-1 decline (1.3993-1.3648) still tracking higher to 1.3775/80. With RSI support having already given way, once this correction completes, a new break of 1.3670 can signal that wave-3 down is underway. S/t, the 3-wave sell-off to 1.3635 fits as wave-(b) within a larger wave-2 correction. The move higher since yesterday is the beginning of wave-(c). The 38.2% retrace of wave-1 is 1.3780, the typical (c) = 1.618(a) is 1.3775; together this makes a strong case for one more push to 1.3775 before the downtrend continues. Conviction: Med /High Levels: Support – 1.3656, 1.3635, 1.3560 Resistance – 1.3687, 1.3733, 1.3775
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