[B]Commentary[/B]: We have been expecting a reversal at the 100% extension of 1.0886-1.1327-1.1153 at 1.1594. This level was former support as well; and could now be resistance. The high last week was at 1.159. We wrote last week that “aggressive bears can consider getting bearish against 1.1594.” A bearish bias is warranted against 1.1594.
[B]Strategy[/B]: Bearish against 1.1594, target below 1.0886