Check out this technical pivot, that has acted consistently as support and resistance on various occasions since November. Note the 200-DMA at $1.1097. I currently have a bearish take on this pair below $1.12 given the channel support break last Friday, and short entries seem possible below $1.11 today. If prices rise above this level on a daily close basis, I might re-evaluate my stance on the market (moving towards neutral with a bearish biais).