Overall outlook remains negative but bears pausing above strong Fibo support at 1.1936 (61.8% of 1.1553/1.2555 upleg).
Narrow consolidation extends into third straight day, capped by 200SMA (1.2015) which maintains pressure.
Signals from oversold conditions have been so far ignored, as daily MA’s in firm bearish setup and south-heading 14-d momentum keep bearish bias intact. Firm break below 1.1936 would open way for acceleration towards 1.1790 (Fibo 76.4% of 1.1553/1.2555), with upbeat US jobs data today needed to confirm scenario.
Conversely, sustained break above 200SMA would ease immediate bearish pressure, while stronger reversal signal requires lift and close above falling 10SMA (1.2080) and Fibo 38.2% of 1.2413/1.1937 fall (1.2119).
Res: 1.2000, 1.2015, 1.2050, 1.2080
Sup: 1.1936, 1.1915, 1.1900, 1.1854
