MARKET ANALYSIS: The pair is now trading near the monthly strong resistance level . Now if the resistance level holds on we can see a further downward move to the next possible level at 1.05000 and if the support breaks it will follow to 1.04000.
Alternate Scenario: The monthly resistance level breaks and the candle closes above in the daily time frame we can see a market upward rally to the next possible resistance level . So lets wait and see what the market does in the coming days. Cheers!