For now, we could foresee more downside potential for this APAC pair, this could still drag downwards up to 1.0856 levels which is 38.2% fibo retracements from the peaks of 1.1087.
The prevailing prices of this APAC pair falls well below 21DMA that signifies the long term downtrend to prolong, while leading oscillators shows downward convergence to the price dips.
More importantly, the formation of shooting star exactly at peak of 1.0999 levels to break the baseline of the descending triangle (see red colored circled area).
Leading indicators are clearly converging the ongoing price dips, RSI trending downwards around 49.7801 (while articulating).
While %D crossover has been maintaining at 47 levels, selling sentiments are still lingering around this pair.
Hence, as we could foresee potential downside targets upto 1.0856 in short term it is advisable to buy one touch delta puts on speculating grounds.
