Obviously I’m looking at this pair from a bear-trading perspective. The break-down has started at 83.80 and the 3rd wave selling accelerated from 83.25 to 81.05. The 38.2% bullish retracement of this 3rd wave comes in at 81.90 and this level is holding thus far. Only a clean break back above 82.65 will bring the short-term downward momentum into question.
