🔹Price actions from 1.0635 are seen as a corrective pattern.
🔸 On the downside, break of 1.0727 support will raise the chance that the correction is completed.
🔸Intraday bias will be turned to the downside for retesting 1.0635 low.
🔹On the upside, above 1.0895 will turn bias to the upside for 1.1019 resistance to extend the pattern. But in that case, upside should be limited by 61.8% retracement of 1.1496 to 1.0635
In the bigger picture 🔰
🔹 As long as 1.1496 resistance holds, whole down trend from 1.2555 (2018 high) should still be in progress.
⚡️Next target is 1.0339 (2017 low).
🔸Sustained break of 1.1496 will argue that such down trend has completed.
🔹In this case, outlook will be turned bullish if 1.2555 is retested.