Whilst 1.0800 is holding for now as suspected, if our view for the USD is correct this would suggest the risk for a move below 1.0800 in due course is high for a test of what we look to be better support at the 38.2% retracement of the 2022/2023 uptrend and May low at 1.0634/12.

Whilst we would look for an attempt to find a better floor at 1.0634/12, should weakness instead extend this would warn of a more important change of trend lower, with supports then seen next at 1.0516, then the 50% retracement at 1.0407. 

Resistance at 1.0932 capping can now keep the immediate risk lower. Above 1.1066 though stays seen needed to see the top negated to reassert a sideways range.