- Low 1.64XX is where the red is (projected from the top and this also represents the same drop as we had previously of 411.4 pips).
I would put a hard stop loss at 1.6350/75, don't bother lowering it past this point.
Target 1: mid 1.67XX region
Target 2: previous high at 1.682X
Target 3: 1.7000 (ultimate target)
PS: For the record, I didn't catch the mid 1.65XX bounce of 100 pips, it didn't hit my pending buy order. However, after it dropped, I did get in at 1.6535 but I exited for near break even and decided to wait for lower.
I believe though that the strongest support for this currently falling price is to be found just below 1.634 (roughly 1.6337).
There are minor support levels: just above 1.64 (1.6405) and around 1.644. But I don't know, what to expect of them at the moment.