Euro fell a little further than expected yesterday but the action was of a corrective nature and it has stopped above the mvg avg.It should resume its rally today.A break of 1.2585 will confirm that the pullback is over and a test of 1.2675/1.2720 will follow.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’s rise has been delayed as it pulled back to 1.8150 yesterday.It should now rise steadily towards 1.8310 to complete its retracement.
Dollar/Swiss extended its minor rise to 1.245 yesterday but it should now make its drop to 1.2350/80 to complete its retracement.
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