In the H1 timeframe the currency pair is getting close to the price channel resistance level which makes it relevant to sell from the current price to 1.1100. The additional drivers for ongoing downtrend are the poor data from the euro-zone and strengthening USD.
In the H4 timeframe the instrument features downtrend as a result of ongoing strengthening of USD while waiting for the interest rate decision by the US FED. Based on the technical analysis, the pair is getting close to the up-tending price channel support level which makes it relevant to purchase from 1.4400 to 1.4530.
In the H1 timeframe the currency pair is getting through correction after yesterday’s decline to a Fibonacci level of 38.2 from where there is a good position for selling to 1.5245. The main decline drivers are the good data on the Australian GDP.