• A notable bounce to start the week as expected to probe above minor resistance at .9385, but capped by .9420 ahead of a key barrier at .9540.
• We still see risk for maybe a nudge above .9420, but having probed bear targets in the 9305/9280 last week, we see negative outlook intact for the week
• We see risk still lower to chart/ retrace targets at .9225/ 9195 next.
• The 8-day RSI has begun to correct from OS, leaving downside scope.
• Overshoot risk for the week is to the 78.6% retrace level at .9045.
WHAT CHANGES THIS?
• Above .9420 eases bear risks; through .9540 shifts to neutral, only switching positive above the 200-DMA (.9660)..
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