EUR/USD Technical Analysis: Intraday bullish move faces rejection near 100-hour SMA

The combine's intraday positive force confronted dismissal close to 100-hour SMA, however bulls have figured out how to stick to humble day by day increases simply above mid-1.1300s. 

• Technical markers on 4-hourly/every day outlines haven't possessed the capacity to increase any positive footing and have just begun losing positive force on the 1-hourly diagram. 

• However, the ongoing value activity between two uniting pattern lines, in the course of the last multi week or something like that, established towards the arrangement of a bullish falling wedge graph design. 

• Hence, it is judicious to sit tight for a persuading leap forward the referenced exchanging range before brokers begin situating for the combine's next leg of directional move.

EUR/USD 1-hourly chart

EUR/USD

Overview:
    Today Last Price: 1.1366
    Today Daily change: 36 pips
    Today Daily change %: 0.318%
    Today Daily Open: 1.133
Trends:
    Previous Daily SMA20: 1.1366
    Previous Daily SMA50: 1.1488
    Previous Daily SMA100: 1.1548
    Previous Daily SMA200: 1.1791
Levels:
    Previous Daily High: 1.1422
    Previous Daily Low: 1.1328
    Previous Weekly High: 1.1473
    Previous Weekly Low: 1.1328
    Previous Monthly High: 1.1625
    Previous Monthly Low: 1.1302
    Previous Daily Fibonacci 38.2%: 1.1364
    Previous Daily Fibonacci 61.8%: 1.1386
    Previous Daily Pivot Point S1: 1.1298
    Previous Daily Pivot Point S2: 1.1266
    Previous Daily Pivot Point S3: 1.1204
    Previous Daily Pivot Point R1: 1.1392
    Previous Daily Pivot Point R2: 1.1454
    Previous Daily Pivot Point R3: 1.1487

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USD/JPY Forecast: Happy days are back, the downtrend is dead, long live the uptrend

USD/JPY is exchanging above 113.00 indeed as a few positive advancements enhance the temperament. The day after Thanksgiving deals were supposedly fruitful both on the web and in block and 

1. Specialized Overview 

On its way up, USD/JPY broke above both the 50 and 200 Simple Moving Averages, an impressive bullish sign. Also, we see that Momentum is sure and that the match is exchanging close by an uptrend channel. 

113.25 topped the match before the end of last week and stays of significance. Further up, 113.75 held USD/JPY down in mid-November and is a considerable opposition line. 113.00 is a round number and furthermore held the match down before in November. 114.25 was the high point in November. 

Looking down beneath the two SMA's, 112.80 worked in the two bearings as of late. It corresponds with uptrend bolster at the season of composing. Next, down the line, we find 112.30 that was the trough before the end of last week. 111.80 was a swing low in late October and fills in as a pad beneath 112. 

2. Principal Overview 

Americans' shopping binges enhance the disposition on Wall Street in front of the open and send prospects higher. USD/JPY is all around related with the gyrations of value advertises and reacts decidedly. 

In the old landmass, the European Commission's remain off with Italy over the financial backing is seeing somewhat of a descend, particularly from Italy. The two alliance parties have flagged a will to consult with Brussels and check the deficiency. The news for the most part influences the Euro yet in addition decreased interest from the place of refuge yen. 

Likewise in Brussels, EU pioneers endorsed the Brexit bargain. While the UK government will even now battle to pass it in Parliament, this is one stage forward towards a goals. The news is additionally steady of hazard taking and debilitates the yen. 

Markets as of now overlook other geopolitical dangers. Russia and Ukraine conflicted over Crimea by and by, reminding the world that the emergency stays uncertain. Russia seized three Ukrainian vessels and barred the Kerch Straight. Ukraine said it was a demonstration of war. The circumstance currently appears to be contained, however stays unpredictable. 

Closer to Japan, talks between North Korea and the US have slowed down even as the two sides are endeavoring to arrange another Summit between US President Donald Trump and North Korean pioneer Kim Jong-un. 

Trump has a more critical experience this week, with President Xi Jinping of China, where exchange beat the plan. Features on the exchange war front could move the match as ahead of schedule as today. 

All things considered, markets are seeing the glass half-full and this helps the USD/JPY match move higher.

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Tory-DUP deal over unless PM May replaced - UK's Daily Telegraph

According to unverified reporting by the UK's Daily Telegraph, the UK's ruling Conservative party's coalition deal with Northern Ireland's DUP could be axed unless the Tories call for a no-confidence vote in PM Theresa May and install a new UK leader with more hard-line Brexit tendencies.

according to the Daily Telegraph, whose sources currently remain largely unverified, the DUP would automatically vote down any withdrawal agreement tabled by PM May regardless of content, and the DUP is alleged to be playing hardball with the UK Tories, demanding a new UK leader.

Theresa May's latest draft proposal has seen another round of ship-jumpers from within her own government, with Dominic Raab resigning as Brexit minister and Esther Mcvey vacating her seat as the work and pensions minister, leaving the prime minister further isolated within her own government, and key Tories within the UK government have allegedly already delivered letters recommending a no-confidence vote in PM May's government.

The GBP/USD is unmoved in early Friday action as broader markets await more significant confirmations beyond the rumours.

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AUD/USD ensnared just shy of 0.7300

• Friday looks set for tense action as the US reaffirms January step-up of China tariffs.
• A thin calendar leaves the Aussie exposed to headline-driven flows.

The AUD/USD heads into Friday trading near 0.7275 after a rough Thursday session saw the Aussie get propped up by better-than-expected employment figures, then trade in rough whips just beneath the 0.7300 handle.

The Friday calendar is free and clear of any meaningful data for the Aussie, leaving Pacific-Asia session traders to grapple with trade war headlines, following recent announcements that the US, despite an apparent thawing in talks between them and China, still intends to jack up the tariff rate on Chinese goods to 25% beginning in January. The planned move will likely see trade rhetoric keep a sharp edge in the weeks leading up to the G20 summit at the end of this month, where US President Trump and China's Xi Jingping are slated for a sideline trade meeting.

AUD/USD levels to watch

Thanks to Friday's above-expectations reading of Australian Unemployment, the AUD is leaning into a bullish technical stance according to FXstreet's own Valeria Bednarik: "from a technical point of view an in the short term, the pair is bullish, as in the 4 hours chart, the pair continues developing above a firmly bullish 20 SMA, which advances above the larger ones, while technical indicatorshold well into positive ground, lacking directional strength at the time being. The high for this month is 0.7302, while September one comes at 0.7314, the level to surpass to trigger a bullish continuation up to 0.7360,  where the pair has multiple daily highs and lows from early this year."

Support levels: 0.7235 0.7200 0.7165   

Resistance levels: 0.7315 0.7360 0.7400

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EUR/USD Technical Analysis: Euro finds short-term support at 1.1240 as the London session comes to an end

• UR/USD is trading in a bear trend below the 200-period simple moving average.
• EUR/USD broke below the key 1.1300 figure earlier in the day. The main bias keeps a bearish bias as the RSI and Stochastic indicators are in oversold condition while the MACD is negative.
• EUR/USD has found some short-term support near 1.1240 as the London session came to an end.  All suggesting that a test of 1.1300 can be on the cards.

EUR/USD 4-hour chart

Main trend:             Bearish

Resistance 1:   1.1300 figure
Resistance 2:   1.1350 figure
Resistance 3:   1.1400 figure
Resistance 4:   1.1430 October 9 low
Resistance 5:   1.1470 Asian high (Nov.7) 

Support 1:   1.1240 current November 12 low
Support 2:   1.1200 figure
Support 3:   1.1104 June 6, 2017 low

Additional key levels at a glance:

EUR/USD

Overview:
    Last Price: 1.1255
    Daily change: -83 pips
    Daily change: -0.732%
    Daily Open: 1.1338
Trends:
    Daily SMA20: 1.1426
    Daily SMA50: 1.154
    Daily SMA100: 1.1579
    Daily SMA200: 1.1842
Levels:
    Daily High: 1.1369
    Daily Low: 1.1316
    Weekly High: 1.15
    Weekly Low: 1.1316
    Monthly High: 1.1625
    Monthly Low: 1.1302
    Daily Fibonacci 38.2%: 1.1337
    Daily Fibonacci 61.8%: 1.1349
    Daily Pivot Point S1: 1.1313
    Daily Pivot Point S2: 1.1288
    Daily Pivot Point S3: 1.126
    Daily Pivot Point R1: 1.1366
    Daily Pivot Point R2: 1.1394
    Daily Pivot Point R3: 1.1419

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ECB: pushing back our forecast for the first ECB rate hike - ABN Amro

Analysts at ABN Amro explained that they have pushed back our forecast for the first ECB rate hike.

Key Quotes:

"We have changed our forecast for the first ECB rate hike to March 2020 from December 2019 previously. We expect a 10bp rate hike in March 2020 and a second one in September 2020 (with all policy rates moving in synch). The main factor behind the change is the deterioration in the economic outlook."

"Recent economic data have been weak and the  environment for eurozone exports will remain challenging given slowing growth in emerging markets."

"In addition, the US economy is likely to slow, especially in the second half of next year. Weaker export growth will also hamper investment. Although Q3 economic growth was likely depressed by transient effects in the car industry, we think the slowdown also reflects a broader trend. So in our view, the ECB will lower its economic projections."

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Gold falls to new monthly lows near $1207 as US Dollar Index rises above 97

• Broad-based USD strength weighs on XAU/USD on Friday.
• US Dollar Index extends rally to fresh weekly high above 97.
• Precious metal looks to close the week more than $25 lower.

The XAU/USD came under a heavy selling pressure in the NA session and fell to its lowest level since October 11 at $1206.83. As of writing, the troy ounce of the precious metal was trading at $1208.70, losing nearly $15, or 1.2%, on a daily basis.

The pair's recent drop seems to be a product of a strengthening greenback. The US Dollar Index, which recorded losses earlier in the week with the initial market reaction to the results of the midterm elections in the U.S., reversed its course on Thursday following the Fed's monetary policy announcements and preserved its momentum on Friday. With major European currencies such as the euro and the pound weakening sharply against the buck, the index reached its highest level in a week at 97.01 and was last seen at 96.98, adding 0.35 on the day.

Earlier today, the data from the U.S. showed that the PPI rose 0.6% and 2.9% on a monthly and yearly basis, respectively, to beat the experts' estimates. Additionally, the Uom's consumer confidence index came in at 98.3 compared to the market expectation of 98. "Income expectations have improved and consumers anticipate continued robust growth in employment, but consumers also anticipate rising inflation and higher interest rates," the UoM said in its publication.

Technical levels to consider

Supports for the pair are located at $1200 (psychological level), $1195 (Oct. 3 low) and $1188 (Oct. 2 low). On the upside, the initial resistance aligns at $1212 (50-DMA) ahead of $1223 (daily high) and $1236 (Nov. 7 high).

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EUR/USD still under pressure around 1.1340

• The pair remains on the defensive around 1.1340.
• The greenback keeps the bid tone unchanged near 96.80.
• US Producer Prices rose 0.6% MoM in October.

The selling sentiment keeps dominating the European currency at the end of the week, keeping EUR/USD under pressure in the 1.1340 region.

EUR/USD vulnerable on Italy, Brexit

Once again, the pair is suffering the absence of serious progress in the UK-EU negotiations on Brexit, while jitters on the Italian political scenario and their impact on yields have been also adding to the bearish stance on spot in the last couple of sessions.

The pair has been also under pressure following yesterday’s FOMC meeting. Despite the Fed left its monetary policy unchanged, the Committee is expected to raise rates at the December meeting.

On the docket, US Producer Prices surprised to the upside in October, rising at a monthly 0.6% and 2.9% in their headline version, while Core prices followed suit, up 0.5% MoM and 2.6% over the last twelve months.

EUR/USD levels to watch

At the moment, the pair is down 0.10% at 1.1353 and a break below 1.1328 (low Nov.9) would target 1.1313 (200-week SMA) en route to 1.1299 (YTD low Aug.15). On the upside, the next hurdle is located at 1.1500 (high Nov.7) seconded by 1.1508 (low May 29) and finally 1.1550 (high Oct.22).

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ECB: Unchanged rates and reinvestments will last even longer - ABN

Nick Kounis, Senior Economist at ABN Maro noted that the ECB is focusing on the forward guidance on interest rates and reinvestments to provide continued stimulus. 

Key Quotes:

"We continue to think that the ECB will downgrade its economic outlook in the coming months and will therefore change its tone. However, this has implications for the other tools at its disposal rather than net asset purchases."

"Indeed, the ECB President continued to signal that ‘significant monetary stimulus will still be needed’ and that ‘even after we end our net asset purchases, monetary stimulus will continue to be provided by the guidance we have given namely that we expect to keep interest rates at their present levels at least through the summer of 2019 and to maintain the stock of assets on our balance sheet by reinvesting maturing bonds purchased under the asset purchase programme for an extended period of time after the end of our net asset purchases’."

"Indeed, we found it noteworthy that Mr Draghi asserted that the ECB’s forward guidance can change if the economic outlook worsens."

"Indeed, a downgrade of the ECB’s growth forecasts over coming months could well trigger the ECB to signal that the period of unchanged rates and reinvestments will last even longer. "

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EUR/USD Technical Analysis: Euro holding above 1.1400 ahead of the FOMC

• EUR/USD is trading in a bear trend below the 200-period simple moving average on the 4-hour chart ahead of the FOMC this Thursday at 19.00 GMT.
• EUR/USD has been advancing in the last 5 days of trading and has currently found support above 1.1400 and the 50 SMA. The RSI is neutral, the MACD has a bearish crossover and the Stochastic is in negative territories. 
• In order to reclaim some ground, bulls will need to overcome the 1.1430 resistance. A break of the level can lead to an acceleration to 1.1450 and 1.1470, Asian high (Nov.7). Alternatively, a break below 1.1400 can lead to a drop to 1.1350 and 1.1300 levels. 

EUR/USD 4-hour chart

Main trend:             Bearish

Resistance 1:   1.1430 October 9 low
Resistance 2:   1.1470 Asian high (Nov.7) 
Resistance 3:   1.1500 figure and October 2 swing low 
Resistance 4:   1.1530 August 23 swing low (key level)
Resistance 5:   1.1600 figure

Support 1:   1.1400 figure
Support 2:   1.1350 figure
Support 3:   1.1300 current 2018 low

Additional key levels at a glance:

EUR/USD

Overview:
    Last Price: 1.1427
    Daily change: -12 pips
    Daily change: -0.105%
    Daily Open: 1.1439
Trends:
    Daily SMA20: 1.1449
    Daily SMA50: 1.1552
    Daily SMA100: 1.1584
    Daily SMA200: 1.1852
Levels:
    Daily High: 1.15
    Daily Low: 1.1395
    Weekly High: 1.1456
    Weekly Low: 1.1302
    Monthly High: 1.1625
    Monthly Low: 1.1302
    Daily Fibonacci 38.2%: 1.146
    Daily Fibonacci 61.8%: 1.1435
    Daily Pivot Point S1: 1.1389
    Daily Pivot Point S2: 1.1339
    Daily Pivot Point S3: 1.1284
    Daily Pivot Point R1: 1.1495
    Daily Pivot Point R2: 1.155
    Daily Pivot Point R3: 1.16

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USD/JPY: Greenback bulls parked below 113.55 resistance ahead of the US mid-term elections

• The mid-term elections in the US should steal the show in the Asian sesssion.
• USD/JPY contained in a tiny range below 113.55 resistance ahead of the event.

USD/JPY is trading up 0.13% near the 113.55 resistance this Tuesday. Bulls have been trying to break this level since late October but so far all attempts have failed.

The currency pair is evolving in a 35-pip range ahead of the US mid-rem elections. The results should be revealed between midnight and 6:00 GMT. Recent polls suggest that Republicans might lose control of the House, which can keep the US Dollar under some relative pressure, therefore helping USD/JPY to potentially go down. 

On the macroeconomic front, earlier in the session the ISM services index rose to 60.3 in October versus 59.3 forecast in favor of the Greenback. 

The technical pictures remain predominantly neutral to bearish with 113.55 acting as strong resistance in the last weeks of trading. The 113.00 figure is the support to beat for bears. A break below that level can open the doors to 112.55 September 27 low. On the flip side, a break above 113.55 on a daily closing basis could lead to a bull leg to 114.00 figure and 114.57 October high. 

USD/JPY 4-hour chart

Additional key levels at a glance:

USD/JPY

Overview:
    Last Price: 113.36
    Daily change: 14 pips
    Daily change: 0.124%
    Daily Open: 113.22
Trends:
    Daily SMA20: 112.52
    Daily SMA50: 112.39
    Daily SMA100: 111.73
    Daily SMA200: 109.95
Levels:
    Daily High: 113.35
    Daily Low: 113.08
    Weekly High: 113.4
    Weekly Low: 111.78
    Monthly High: 114.56
    Monthly Low: 111.38
    Daily Fibonacci 38.2%: 113.24
    Daily Fibonacci 61.8%: 113.18
    Daily Pivot Point S1: 113.08
    Daily Pivot Point S2: 112.94
    Daily Pivot Point S3: 112.8
    Daily Pivot Point R1: 113.35
    Daily Pivot Point R2: 113.49
    Daily Pivot Point R3: 113.63

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EU’s Dombrovskis: Commission considering sanction procedure against Italy if budget does not change

European Commission Vice-President Valdis Dombrovskis was out on the wires in the last hour, saying that the Commission is considering sanction procedure against Italy if the budget does not change.

The shared currency reacted little to the latest headlines, with the EUR/USD pair holding comfortably above the 1.1400 handle.

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Key event risks ahead - Westpac

Analysts at Westpac noted the forthcoming events. 

Key Quotes:

"The RBA policy decision is due at 2:30pm Syd/11:30am Sing/HK. It should provide only limited distraction ahead of the running of the Melbourne Cup 30 minutes later. The cash rate is firmly on hold at 1.5% for some time, with the October Board minutes repeating that, “there was no strong case for a near-term adjustment in monetary policy.” The statement needs to acknowledge the low Q3 inflation data released between meetings but Friday’s quarterly statement is likely to produce unchanged forecasts. Indeed, today’s statement could well confirm that the key forecasts are little changed since August. We will also be looking for the language around the ongoing fall in house prices."

"The twice-monthly dairy auction takes place in London trade, with little change expected. There will also be plenty of commentary from ECB officials."

"In the US, we should see further confirmation of the tightness of the job market, with the Sep Job Openings and Labor Turnover Survey (JOLTS) due. The number of job vacancies has been trending firmly higher since 2009 but picked up pace this year."

"It is Election Day in the US. Midterm elections are held every four years, at the halfway point between presidential elections. All 435 seats in the House and 35 of 100 Senate seats face re-election, along with many state governorships. Markets should be braced for a divided Congress (Republicans holding the Senate but Democrats taking control of the House) but US elections often produce surprises so global markets and AUD could be whippy around the results on Wednesday Sydney time."

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AUD / USD mantendo-se estável perto de 0.7200 após o rally do final da segunda-feira

• Apesar dos decepcionantes dados australianos de segunda-feira, a venda de dólares ajudou o AUD / USD a recuperar o nível chave de 0,7200.
• A última chamada de tarifa do RBA está prevista para a terça-feira.

O AUD / USD está sendo negociado perto da alavancagem de 0,7200 depois de pegar uma carona na atividade de venda do dólar nos mercados mais amplos durante a sessão de segunda-feira dos EUA, levando o Aussie de volta da consolidação recente perto de 0,7050.

O Aussie atingiu o pico na segunda-feira em 0.7258, mas foi incapaz de manter o nível sobrecarregado e se acomodar perto do maior nível de retração Fibo de 61.8% do par do declínio AUD / USD de setembro-outubro na familiar alavanca de 0.7200.

Terça-feira vê a mais recente declaração de taxa e taxa de juros do Reserve Bank of Australia (RBA), mas com o banco central australiano firmemente entrincheirado com taxas de 1,5%, os comerciantes antipodeanos estarão focados nas perspectivas do RBA com foco crítico nas condições de emprego e salários como a economia australiana continua a cavar-se de crescimento lento.

A terça-feira também verá tensões em alta na esfera dos EUA, com uma iminente eleição para o meio do mandato dos EUA, que deve levar as principais regiões votantes dos Estados Unidos para longe do atual partido republicano, já que uma parcela crescente da população americana está aumentando. insatisfeito com as políticas e táticas do presidente Donald Trump.

Níveis AUD / USD para assistir

 O par Aussie-Dollar poderia estar se preparando para uma corrida continuada, segundo Valeria Bednarik, da FXStreet : "os dois passaram o dia pairando em torno do retrocesso de 61,8% de sua queda de setembro / outubro, encontrando vendedores na região de 0,7180, mas incapaz de avançar além de 0,7215, o gráfico de 4 horas mostra que o 20 SMA ampliou seu avanço, mantendo a sua inclinação de alta sobre os maiores, o que inclina o risco para o lado positivo.a falta de progresso faz com que o indicador Momentum recue no meio da linha, mas o indicador RSI mantém uma leve inclinação de alta, atualmente em 64, este último, também apoiando o caso otimista. "

Níveis de apoio: 0,7165 0,7120 0,7080  

Níveis de resistência: 0,7215 0,7250 0,7290

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US Dollar Index Technical Analysis: DXY bulls regain some ground after Thursday’s selloff

• The US Dollar Index (DXY) is in a bull trend above the 200-day simple moving average. 
• DXY regained some of the ground lost on Thursday. Bulls would ideally need to recapture 97.20 (current 2018 high) in order to resume the bull trend.
• The RSI and Stochastic indicators are weakening suggesting bulls would need to break above 97.20 quickly if they do not want the bears to take over.

DXY daily chart

Trend:                     Bullish

Resistance 1:         97.20 current 2018 high
Resistance 2:         97.87 June 20, 2017
Resistance 3:         98.00 figure

Support 1:               97.00 former 2018 high
Support 2:               96.41 August 20 high
Support 3:               96.00 figure
Support 4:               95.65 multi-month resistance (key level)
Support 5:               95.52 August 6 high
Support 6:               95.24 July 13 high

Additional key levels at a glance:

Dollar Index Spot

Overview:
    Last Price: 96.5
    Daily change: 19 pips
    Daily change: 0.197%
    Daily Open: 96.31
Trends:
    Daily SMA20: 95.94
    Daily SMA50: 95.32
    Daily SMA100: 95.17
    Daily SMA200: 93.14
Levels:
    Daily High: 97.1
    Daily Low: 96.2
    Weekly High: 96.86
    Weekly Low: 95.47
    Monthly High: 97.2
    Monthly Low: 94.79
    Daily Fibonacci 38.2%: 96.54
    Daily Fibonacci 61.8%: 96.76
    Daily Pivot Point S1: 95.97
    Daily Pivot Point S2: 95.64
    Daily Pivot Point S3: 95.07
    Daily Pivot Point R1: 96.87
    Daily Pivot Point R2: 97.44
    Daily Pivot Point R3: 97.77

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NZ: Consumer confidence slips to below-average levels in October - ANZ

Sharon Zollner, Chief Economist at ANZ, points out that the New Zealand’s consumer confidence is gradually declining due to increased wariness about what the future may bring, according to the ANZ-Roy Morgan Consumer Confidence Index.

Key Quotes

“The overall index dipped 3 points, taking it under the historical average. The Current Conditions Index lifted 2 points to 122, but the Future Conditions Index fell 5 points to 111, the lowest level since September 2015.”

“Consumers’ perceptions of their current financial situations dipped 1 point to a net 11% feeling financially better off than a year ago”

“House price inflation expectations dropped to 2.7% y/y, lower everywhere.”

“Inflation expectations lifted a tad from 3.4% to 3.5%, a pretty muted move in light of recent petrol price increases.”

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EUR/USD keeps highs around 1.1400 ahead of US ISM

• Spot climbs to 3-day tops in the 1.1400 neighbourhood.
• The greenback tumbles to lows near 96.40.
• US ISM Manufacturing next of relevance in the calendar.

EUR/USD is extending the upside momentum to the 1.1400 region so far on Thursday, clinching at the same time fresh 3-day peaks.

EUR/USD now focused on US data

The pair is recovering part of the recent sharp losses to the boundaries of 1.1300 the figure on Wednesday, always on the back of a strong selling sentiment hitting the greenback.

The better tone in the riskier assets remains propped up by rising optimism (wishful thinking?) over a potential Brexit deal at some point later in the month, as per recent comments by UK’s negotiator D.Raab.

Looking ahead, the buck should be in centre stage in light of the publication of the manufacturing gauge by the ISM. Earlier in the day, Initial Claims rose 214K WoW, Unit Labor Costs rose 1.2% QoQ in Q3 and Nonfarm Productivity expanded 2.2% QoQ during the same period.

EUR/USD levels to watch

At the moment, the pair is up 0.65% at 1.1386 facing the next hurdle at 1.1416 (high Nov.1) seconded by 1.1467 (21-day SMA) and finally 1.1550 (high Oct.22). On the other hand, a break below 1.1302 (low Oct.31) would target 1.1299 (2018 low Aug.15) en route to 1.1118 (monthly low Jun.20 2017).

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