Prices are testing resistance at 1.1155, the 23.6% Fibonacci expansion. A break higher on a daily closing basis exposes recent swing highs in the 1.1194-1.1223 area, followed by the 38.2% level at 1.1307. Near-term support is at 1.1061, the 14.6% Fib. A reversal beneath this barrier exposes the
A long position at current levels is attractive absent a confirmation of a break above resistance. Meanwhile, a Hanging Man candlestick below resistance is hinting at indecision and may precede a pullback but is likewise insufficient to make for an actionable trade signal. We will opt to remain flat for the time being.