The cross has continued to sell-off as laid out in the 7/1 update (“still room for lower…”). We were and are still focusing on a move to .78 where wave-A=C and within wave-C, wave-1=5. If prices do unfold to .78 we’d expect a meaningful base and change in trend to develop. (daily) S/t, resistance is .7937 & .7980. There is little support now down to the .78 target zone but the initial bear flag target is .7862. Levels: Support – .7862, .7800 Resistance – .7937, .7980, .8028
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