eurauddaily

This has been an important pair to watch over the last week or so and there might be more to come. If a move is almost vertical in either direction, I find there to be an increased liklihood that the 38.2% retracement will suffice. That level is 1.4870 and that was the overnight low. If a low starts to form near there then I expect another short-covering squeeze towards 1.5600 approximately.