Euro managed to drift up to 1.2617 initially yesterday before dropping to 1.2555.The subsequent rise to 1.2610 appears to be a corrective swing so Euro should drop into the 1.2535/55 region initially today to complete the retracement of the rise from 1.2575.The rally should then resume and when 1.2620 gives way Euro should test the 1.2675/1.2720 region.This rise will probably complete the irregular consolidation and leave Euro vulnerable to a new decline.Only a rise through 1.2810 will negate the chances of such a move.
Sterling is still to drift up to 1.8310 to complete the pullback from the recent low.A drop through 1.8125 should follow to complete the sequence from 1.8560.
Dollar/Swiss should test 1.2350/80 today and then make one brief rise through 1.2435 to complete its rally.
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