Pair’s back to back failure at the descending trend line last week followed by a similar rejection today and a break below 115.00 levels has opened doors for 114.10 levels (classic monthly pivot S1). A violation there could yield a move to 112.00 (Sep 21 low).
On the higher side, only a daily close above the descending trend line would signal bearish invalidation.
On the higher side, only a daily close above the descending trend line would signal bearish invalidation.
