following yet another failure to surmount the 1.0680 resistance level from June 7. Yesterdays 1.0576 low is now key and failure to break back below sets the pairing up for another test of the key weekly resistance level. Above 1.0680 and we open up 1.0855 and as such will S&R at 1.0685
We remain at 1.0654 for eventual losses down to our 1.0576 (Tuesday session low), below which will accelerate further down. 1.0653 (today session high), this should stem near-term corrective activities. Daily momentum, despite being positive, is heading towards the zero line and is likely to become negative in coming sessions.