Wave i/ peaked at 1.7479 and the ongoing correction in wave ii/ will ideally make it lower to the 38.2% support at 1.7067 before turning higher in wave iii/ towards 1.8638.
Short-term a break below minor support at 1.7238 confirms more corrective downside pressure towards 1.7112 and ideally towards the 38.2% corrective target at 1.7067 to complete wave ii/ and set the stage for the next upside attack in wave iii/ towards 1.8638.
R3: 1.7379
R2: 1.7320
R1: 1.7299
Pivot: 1.7238
S1: 1.7200
S2: 1.7181
S3: 1.7139
Trading recommendation:
We will wait for a buying opportunity near 1.7067
