The price of the pair affected by Friday's trading strongly barrier centered about 118.50 to note rebounding rapidly below the level of 116.80, the above could push the pair to lose corrective control of emerging and start predicting the decline of the price negatively to target this 115.05 level and then to test the descending channel support at 112.90.
Landing SMA 55 without descending channel resistance as well as the arrival of some stochastic oversold level increases the negative pressure on the current trading and increases the chances of the arrival of the negative price target previously mentioned.