BIAS: We should see losses extend to around 0.9439 before higher again
Resistance: 0.9486; 0.9500-08; 0.9530; 0.9546
Support: 0.9460-65; 0.9439; 0.9403-17; 0.9392
MAIN ANALYSIS: We're close to the final low now and feel we should be looking for bullish reversal indications in the 0.943955 area. Also note the 0.9391-14 area.To confirm a reversal higher we shall need a break back above 0.9500-08. Once seen we should see further upside progress back above 0.9530-46 and to 0.9560-70 at least and into the 0.9595-0.9623 area. I suspect this will cap for a correction.
COUNTER ANALYSIS: Only a break below 0.9430 would risk losses to 0.9403-17 (max 0.9392). I'd still watch this area carefully also for any bullish reversal indications. Thus, only below 0.9385 would extend losses to 0.9349 and 0.9333.
MEDIUM TERM ANALYSIS:
29th October: We're seeing the losses expected and I estimate these could reach the 0.9439 area though make sure there are good bullish reversal indications. There are deeper retracement areas at 0.9391-14. From here we should see constructive gains again.
Only below 0.9380 would begin to cause concern.