Pair's failure to take out the falling trend line resistance yesterday coupled with negative closing if followed by a break below 1.1306 (today's low) would open doors for a drop to 1.1296 (23.6% of May 2014 high-Mar 2015 low) and 1.1282 (5-DMA).
On the higher side, resistance at 1.1356 (23.6% of 1.0517-1.1616 + falling trend hurdle today) if taken out on day end closing basis would mean short-term bottom is in place at 1.1131 and could yield 1.15-1.1530 levels.
On the higher side, resistance at 1.1356 (23.6% of 1.0517-1.1616 + falling trend hurdle today) if taken out on day end closing basis would mean short-term bottom is in place at 1.1131 and could yield 1.15-1.1530 levels.
