A further move to the downside will most likely see the pair collapse below the 1.1700 figure and target bids around 1.1639, a level established by 2005 low, which currently acts as a gateway toward the psychologically important 1.1500 handle. Indicators are mixed with negative momentum indicator diverging from positive MACD, while oversold Stochastic gives the single currency longs a chance to retaliate.