Daily Pivots: (S1) 1.0775; (P) 1.0800; (R1) 1.0816; More….
Break of 1.0787 support suggests resumption of fall from 1.0890. Intraday bias is back on the downside for 1.0737 support. Break there will extend the sideway pattern from 1.0915 with another falling leg, towards 1.0661 support. For now, deeper decline will remain in favor as long as 1.0866 resistance holds, in case of recovery.
In the bigger picture, price actions from 1.0503 are still seen as a consolidation pattern. With 1.1059 cluster resistance (38.2% retracement of 1.2004 to 1.0503 at 1.1076) intact, the down trend from 1.2004 (2018 high) would still extend through 1.0503 low at a later stage. However, sustained break of 1.1059/76 will argue that rise from 1.0503 is starting a new up trend and would target 61.8% retracement at 1.1431 and above.
