You can probably make out the current prices have still been fallen below 7 & 21DMA curves.
In addition to that, 21DMA crossing over 7DMA which is sell signal.
Break-out below support at 1.1120 levels have brought in more pressures in short run, on the contrary, bouncing back above these levels can show the strength, however, the we think probabilities are very less.
The clear convergence between leading, lagging oscillators and declines in price curve would imply that the prevailing swings may prolong further.
Next strong support seen at 1.1050 and 1.0942 levels.
Having said that, on a long term trend perspectives, it has been holding strong support at 1.0810.
and on monthly signals buying for long term targets upto 1.1290 and 1.1416 with stop los at 1.0810.
Alternatively, on intraday terms, the trade strategy would be the boundary binary options.
Buy cash-or-nothing options using boundary binaries for targets around 40-50 pips.
Upper strikes - 1.1130; lower strikes around 40 pips below 1.1070.
The trading between these strikes would derive certain yields in this puzzling trend and more importantly these yields are exponential from spot FX.
For cash or nothing, these options would be exercised if the forward prices to remain between both strikes (i.e. 1.1130> Fwd price > 1.1070).