The bulls have been exerting strong upside pressures since the 30th of July, 2015, after the aggressive downside move that started from as high as 1.1080 and ended up as low as 1.0893.
The bullish pressures will likely resume and the buyers could set their take profit targets at 1.1030 and 1.1049 respectively.
Alternatively, a downside break at 1.0964 could signal the continuation of the downtrend formation from 1.1110, with the closest bearish take profit target set at the 1.0893 level.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.