Moreover, there is a key bullish trend line forming with support near 1.1800 in the same chart. If there is a downward break below the trend line support, the pair might find support near the 1.1750 level.
Any further losses may perhaps open the doors for a sharp decline towards the 1.1620 support zone. On the other hand, the pair could continue to rise towards the 1.1880 resistance levels. The next major resistance is seen near 1.1920, above which the pair could rally towards the 1.2000 level in the near term.
