A firm break below the figure level could see the downside move accelerate
The pair is trading at four-month lows, just keeping barely above the 1.0900 handle as the downside momentum continues to stay the course since the start of last week.
The 1.0900 is the key level in focus as buyers are leaning on that for support, with added support levels seen nearby around 1.0979-85 from the 30 September and 1 October lows.
The pair is still trading in a "don't catch a falling knife" momentum and unless something changes - whereby buyers work towards a consolidation or retracement - then it is hard to go against the current sentiment.
Looking at the bigger picture in the pair:
A firm break below 1.0900 may see the downside momentum accelerate, with key trendline support seen at 1.0808 currently potentially being an area for buyers to lean on.
Beyond that, it could prove to be a slippery slope with little in the way from a technical perspective to stop a drop towards 1.0500 potentially.
