Is at a very important juncture testing its long term uptrend line, a clear break below this trend line confirms acceleration lower towards the 38.2% corrective target of the rally from 1.1605 to 1.5597 at 1.4072.
Short term a close below the trend line here at 1.5175 and more importantly a break below support at 1.5147 will confirm that wave 3 lower towards at least 1.4646 is developing.
As can be seen for the 4 hourly chart a series of waves one's and two's might be developing. This normally causes a powerful decline if confirmed.
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