The pair is attempting a minor recovery from session lows, but bias lower.
Markets await German ZEW business sentiment index, expectations are for a sharp rebound in July.
The headlines number is expected to rebound to 2.1 versus a sharp -6.8 percent drop seen in June.
Any miss in data could weigh heavily on the pair, drag till 111 levels then likely. Upbeat numbers could provide good entry for shorts.
invalidation only above 50-DMA at 115.47, break above could take the pair to 115.47.
Pair is holding strong support at 112.34, break below will find next major support at 112.30 (Aug 5th low).
Go short on break below 112.30, SL: 113, TP: 111.90/ 111.40/ 111