based on some deep looks into my daily charts this scenario has been uncovered. I think we'll see 1.157 (revised from 1.146) before a sharp drop to a ARC below waiting to give eu support. This is the KEY moment for this pair as it will have to decide on parity (going down to 1.0000) -OR- going up to 1.2147-8 by May 1st.
Lots of news coming this week can fuel the justification for these wide swings,
GL!
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UPDATE to TP2 it should be 1.10689 NOT 1.11796 draw the arc a little to high..