From a technical perspective, the pair remains vulnerable to extend its ongoing trajectory. However, extremely oversold conditions might sponsor some short-covering bounce, which might still be seen as a selling opportunity. Hence, any meaningful recovery attempt back above the 1.0880-90 region is more likely to remain capped near the 1.0925 (daily swing highs on Tuesday and Wednesday).
On the flip side, some follow-through selling now seems to accelerate the fall further towards the 1.0800 round figure mark. Bears might then aim towards challenging a support marked by the lower end of an over one-year-old descending trend-channel formation on the .