Price has been respecting the channel nicely and fib levels. Am looking for a possible retrace back up the channel to around the .618 level before continuing short.
Comment:
The daily pivot is at 111.60. close to the .382 retracement level. Given the weakness in the USD since FOMC news, price may not retrace as far as I initially anticipated. Will see if it manages to breach the DP before continuing short. Happy trading everyone.