The pair tested 38,2% Fibo level, which is on 1,10647. The breakthrough didn’t come true. Before the pair continue to fall down, the short correction is possible. The pair may bounce back to the level 1,11000.
1. has left the oversold zone
3. lines are close to intersect each other
The target for the price is 38,2% Fibo level or 1,11012
The key event for Friday in the US economy is Michigan consumer sentiment, which is published at 3 p.m. GMT