Currently we are at 0.9962 and hovering on or above a bounce point on the 0.500 Fibonacci level to the north. If we continue to go down to the trend line (around 0.9940) and bounce-the target area is the 0.214 fibo @ 1.0015 and then the resistance cluster ( Resistance/(R4/R5/1.270 Fibonacci extension) @ 1.0103. A break down would target the R3 and bottom @ 0.9878. is the1.618 Fibo extension @ 81.55. The average daily trading range (ATR) is 49 pips.
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