The pair extended near-term downtrend from 98.64 high with an important support at 97.00 being cracked. A fresh weakness tested 96.90, Fibonacci 61.8% retracement of 95.78/98.64 rally, increasing downside risk towards key support at 95.78, August 8th low. Negatively aligned near-term studies support the notion.
Daily close above 97.00 handlen sees scope for the corrective action, with rallies expected to be capped under a 97.85 peak to keep the structure intact.
Resisitance: 97.85; 98.11; 98.64; 98.75
Support: 97.13; 96.90; 96.40; 96.00