I’ve been building this position over the last week and whilst I think there is plenty of scope to see levels near 95 cents in coming weeks, I think it’s unlikely to happen in a straight line. The base for me is now likely to be around .9120/50 so any dips toward there will give good buying opportunities.

The 61.8% retracement of the .9750/.8660 downmove comes in near .9335 and I will start to book some profits if/when we start getting close to this level (just in case the down-trend starts to reassert itself).