The retracement to the lower levels will happen if the market makes a move and close below 110.00. At this point we can see that there is a potential, however the price must not break 110.40. Below 110.00 we should see 109.72, 109.48 and 109.15. Above 110.40, 110.95 should be next. Have in mind that the ATR(5) is very low, around 30 pips. That means the pair is extremely slow and it might take some time for the price to develop.
