Price has been rejected from the .5 fib level numerous times. The initial CTL was broken and retested along with the .5 fib level again. This retest created another nice outer CTL. I am awaiting a break of this trend line
along with a break of 1.07 (key support level
) to give us further downside. Targets include the retest of lows at 1.0460s and potentially the fib extension at 1.0170s.