From a technical and trading perspective, as 1.1065 contains upside corrections look for a test of bids and stops below 1.10, a failure below 1.0980 will be a bearish development exposing the 1.0870’s autumn low. On the day only a close back above 1.1040 would suggest that the symmetry & equidistant swing support will stem the downside pressure. Note yesterday’s price action saw a late day reversal, as we witnessed position squaring ahead of pivotal support and headline risk from the FOMC. A daily close today back through 1.1040 could prompt further short covering into the end of the month.