Drilling down to the hourly, I am showing possible wave 4 resistance at around 153.95. There is a minor wave 4 high of one lesser degree, parallel channel resistance, all on top of a a-b-c move (not shown) at around 154.00. I will look to get short in this area with 30 point stops for the wave 5 move lower. The immediate downside target is this morning's 151.87 low, and then the 2.0 fib projection at 150.50, and then finally the 2008 lows of 149.28. (forex.com)