Commentary: We wrote yesterday that the rally from .8274 is likely nearing an end. The rally is in its 5th wave, so the trend is towards higher prices but not before a substantial correction.
That correction is either complete at .8605 as the decline from the top (.8702 is in 3 waves) or the decline from .8702 is just the first leg in a more complex correction. If that is the case (that the decline is just the first leg), then a deeper decline may very well test .8492 before an advance. Strategy: Flat