The price action is bearish on the monthly, weekly and the daily chart, the pair broke below key support zone, below 1.9050 – 1.8950. Next support which is now the target of the bears is July 2019 low around 1.8300.
The price is now within 3rd bearish wave on both the weekly and the daily chart, the first target for the bearish weekly trend is at 1.272 FIB around 1.7700 where we have some support as well and we may see bounce. Second target is 1.618 FIB around 1.7000.
At this point watching the resistance between 1.8950 – 1.9050 for rejection and resumption of the decline.
Monthly chart:
Weekly chart:
