A downward trend is strong. Locally, the pair is in a correction.
Assumingly, a downward impulse within the third wave iii of C continues forming. Locally, the first wave of the junior level (i) of iii seems to have finished and the upward correction in wave (ii) shaped as a zigzag is developing. If the assumption is correct, the pair will continue falling towards 0.9500 after the correction ends. Critical for this scenario is the level of 1.0254.