Therefore the price of this pair sits right in the middle of its long-term range that has held for about two months now. This pair is going nowhere. The level of 120.00 may hold as resistance today, giving a few scalping opportunities perhaps.
This pair does tend to be very sensitive to risk, and with the political drama coming out of the United States, it makes sense that stock sold off, and that of course continues to put bearish pressure on this pair. I think the 110 level below will be a nice target, it has attracted a lot of attention in the past.