The pair has been falling down since a “Shooting Star” was formed at the local high. Currently, we’ve got an “Inverted Hammer”, but this pattern hasn’t been confirmed yet. So, the market is likely going to get a resistance on the 21 Moving Average, which is strong enough to help bears continue their rally. As we can see on the Daily chart, there’s a pattern, which seems like an “Engulfing”. Therefore, the price is likely going to reach the 34 Moving Average as a support.
We’ve got a support by the nearest “Window”, which could bring a bullish pattern during the day. So, the market is likely going to test the 55 Moving Average. If we see a pullback from this line, bears will probably try to deliver a new low very soon.