Early signs of basing continue to develop around the important 1.3000 psychological level. However, the multi-month reversal pattern and recent DeMark™ exhaustion signal still weigh. • A decisive close below 1.3000 is required to unlock the important multimonth reversal pattern into 1.2625 (16 Jan swing low). • Meanwhile, only a sustained daily close back above 1.3228 (20 th April high), puts this scenario on hold for a potential recovery into our upside target zone at 1.3460-1.3497 (200-day average). • Inversely, the USD Index is still holding its latest rebound from key support at 78.66/10 (04 March low/TD Level), ... (full story)