A new pullback low of 1.2308 and bears eye the 10DMA, 1.2296

The 10-DMA has contained weakness since Jan. 6

Our 1.2430 short stop lowered to 1.2380 and target raised to 1.2210

Our target now set ahead of the daily cloud top, 1.2180

Momentum and RSI readings favour the downside

A minimum correction of the 1.1842-1.2447 climb is at 1.2304

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