We have seen several attempts to break .9900 and failed. This close to historic highs near 1.0 will look for the next leg to test that price level. Currently approaching the critical area for the retracement. A bounce up is possible all the way down to the trendline and that will keep the up trend intact and we will look for an initital move to the 0.9994 and the R4 @ 1.0007 with a further target @ 1.0033. The downside risk is @ .9832 where the R1 is.
FOMC caused a spike up yesterday but we have topped out with a lower high indicating the downward move is still intact. Currently approaching the critical area. A break of the trendline to the south keeps the downtrend intact and we will look for an initital move to the S3 @ 1.3870 with a further target @ 1.3781. Upside risk is a move to the top again.