The pair broke below the previous daily low, below 1.1952, extending the daily bearish run. The first target of this bearish run is at 100% FIB extension around 1.1840, the second target is at 1.272 FIB extension around 1.1735. Just above 1.1735, around 1.1760, we have 0.786 FIB retracement and the weekly 50 EMA, and therefore, we should watch 1.1760 for potential bounce in the price.
The resistance at the previous minor daily high at 1.2114 should watch, if the price breaks above it, it will be a signal for resumption of the weekly bullish trend.
Weekly chart:
Daily chart:
