The pair made a broadening top, unable to breach the 1.1 level on the upside. Last two weeks, it managed to close above 20Wsma. This week, the pair hit the 20Wsma. On the down side, it has support at 1.07915. Closing below this, the short-term noise will be created for a downside target at the 1.0708 and 1.0620 levels. The weekly RSI is indicating a sell on the rise strategy. On a daily basis, the pair declined and close below 20Dsma and 200Dsma. On the down side, it has support at 1.08; a daily close below 1.08; the near-term target may be found around the 1.0765 and 1.07 levels.
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