Some points to look at here.
- The rally off .8590 stalled at .9150, a previous high.
- The market has broken cleanly below Fibo and trend line support around .8800
- Moving averages are all turning lower
This look like a sell-rally trade to me with levels back towards .8850 looking like good entry points. The first target is the .8590 low but if bearish momentum can be maintained then the 2009 low at .8400 looks achievable.
