The Dollar is still supported by the Fed in place ( unwinding and probable rate hike in 2015).
As said on the intro, the pair is about to retest the lower bound of a two years up trending channel, in addition to that, the oscillator is about to enter oversold territory which suggest that the downside potential is now limited and a reversal becomes more and more probable. We have two key supports to watch closely which are 10.8950 and lower at 10.80 (low level of October). Last but not least the 200DMA comes as a strong support.
Agressive entry @10.8950 and more conservative at 10.8000
Two take profits targets will be placed at 11.3388 and the second one at 11.60.