Estimated pivot point is at the level of 1.0770.
Our opinion: Sell the pair from correction below the level of 1.0770 with the target of 1.0450 – 1.0350.
Alternative scenario: Breakout and consolidation of the price above the level of 1.0770 may trigger further rise in the pair up to 1.0800 - 1.0856.
Analysis: Presumably, the formation of the upward correction as the fourth wave of the senior level, has completed. Locally it seems that the downward one-two impetus as the first wave of the junior level (i) is being formed. If this assumption is correct, the pair will continue to decline to 1.0450 – 1.0350. Critical level for this scenario is 1.0770.