Investors sold the rally on Tuesday from close to the 100 day average rate, for sentiment to close with a loss of 20 pips on the day. A trend of higher daily lows has been ended, which is negative for sentiment.
So with this in mind the outlook for Wednesday is to sell on the open and at .9313, with a stop loss at .9346, yesterday’s high. Targets are to .9278, last week’s open, .9262, the 13th Aug low and .9239/48, this month’s weekly low trades.