Commentary: The scenario that we have described recently is playing out. Expectations are for a corrective rally that we will look to sell into. Look for the rally from .9872 to face strong resistance in the 1.0125/84 zone. This is the 50%-61.8% of 1.0378-.9872. Former resistance is also at 1.0117.
Strategy: Bullish, against .9872, target 1.0120 (we’ll be looking to flip near there)
Al Bawaba
