The negative pressure on the pair returned after testing the lower limit of the breached price channel shown on the 4 hour chart … Stochastic and RSI indicators are showing bearish momentum.
The downside potential remains intact as long as trading remains below 1.1350 to be the next targets around 1.1220 as the first target, whose breach may extend from the current bearish wave to target support around 1.1105 as the second target.
A break of 1.1350 might be enough to end the downside potential and could then continue to rally towards 1.1405 as the first target and then 1.1460 as the second target at least.
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