Our preference: short positions below 0.7650 with targets at 0.7600 & 0.75700 in extension.

Alternative scenario: above 0.7650 look for further upside with 0.7670 & 0.7685 as targets.

Comment: the RSI shows downside momentum.

Our preference: long positions above 1.2475 with targets at 1.2525 & 1.2555 in extension.

Alternative scenario: below 1.2470 look for further downside with 1.2400 & 1.2385 as targets.

Comment: support base at 1.2470.

Our preference: short positions below 0.8640 with targets at 0.8605 & 0.8580 in extension.

Alternative scenario: above 0.8640 look for further upside with 0.8677 & 0.8685 as targets.

Comment: even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.

Our preference: short positions below 1.0820 with targets at 1.0750 & 1.0725 in extension.

Alternative scenario: above 1.0820 look for further upside with 1.0850 & 1.0875 as targets.

Comment: the RSI shows downside momentum.

Our preference: short positions below 111.75 with targets at 111.00 & 110.75 in extension.

Alternative scenario: above 111.75 look for further upside with 112.25 & 112.90 as targets.

Comment: the upward potential is likely to be limited by the resistance at 111.75.