• Recoveries for pair are limited
  
  
• Lower stop on short to above 1.1115 high
  
  
• 1.0762 monthly low from Sept 2003 next downside target. 1.0988 Thurs base
  
  
• Long-term fibo (76.4% of 0.8228 - 1.6040) at 1.0072 looks realistic
  
  
• Prices closed the month under the 61.8% of this move at 1.1212