Euro appears to be completing a minor sequence at yesterday’s 1.2760 low.Expect a rise to between 1.2835/1.2885 today to retrace the drop.Then the decline should resume, exceed 1.2690 and challenge the 1.2620 and 1.2550 targets.Only a strong rise through 1.2890 will suggest that the broader rally will resume.
Sterling either completed or is nearing the completion of a sequence at 1.8530.Expect a pullback to 1.8650/1.8700 before the decline continues towards 1.8400.
Dollar/Swiss completed a minor sequence at 1.2240 and will retrace to 1.2100/35 before continuing with its rally to break through the 1.2300 high.
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