The pair is currently on a strong decline and the reason is the rejection near the 1D MA200. Since this MA period broke downwards in April 2018, it has successfully held the price action below. In particular, this is the 4th time it has rejected the uptrend so closely. Every other time it has done so, the pair made a new Lower Low on the Monthly chart, which remains bearish
= 42.218, MACD
= -0.004, Highs/Lows = -0.0088). This is a strong sign that there are higher chances this time to break the 1.1110 Monthly Support which is holding since May 30, 2017.
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