Intraday Chart:
BIAS: Still look for the 0.9200-15 area to cap for a correction lower
Resistance: 0.9202 0.9216 0.9228 0.9243
Support: 0.9188 0.9176 0.9161 0.9140-50
MAIN ANALYSIS: The rally extended above 0.9160-71 to reach 0.9190-95. We should now see 0.9180-88 support for follow-through to reach the 0.9202 area at least - allow for 0.9216-20 though I doubt it will get this high. As this is approached note momentum conditions, preferably with an hourly bearish divergence - A 4-hour divergence is already in place.
COUNTER ANALYSIS: Only above 0.9216 would extend gains to 0.9228 and possibly 0.9243.
Only a break back below 0.9176 would imply more direct losses, I feel quite choppy and relatively deep. Note the 0.9140-50 support.
MEDIUM TERM ANALYSIS:
21st August: The break above 0.9114 is bullish. I still have only tentative intermediate targets but suspect we should see gains towards the 0.9400 area initially while higher targets are at 0.9480 and 0.9537... and probably the higher at a minimum. This will need to be fine tuned as it progresses.
Only an earlier break below 0.0.9022 would bring us back into a broad range, noting the 0.8950 support.