After breaking the daily ascendant trend line, pair holds the bearish perspective, and already lost the oversold conditions in the hourly. Having reached and retreat from 20 SMA, under 0.8980 pair should resume downtrend, and reach the 0.8920/40 area quickly. Gold movements will also be key or the pair, as further falls in the metal will extend the downside here.
Above current price, first strong resistance level lies around 0.9080 so only a clear confirmation above that level, and rising gold prices, could send the pair back up, to test the 0.9120 area, 20 SMA in the 4 hours charts, also pullback to the daily ascendant trend line broken past Asian session.
