The pair continued to move down on Tuesday, testing the 8 EMA at 1.1834 (blue thin line), then rolled back up, closing the daily candlestick at 1.1839. Today, the price may continue to move down. News is expected at 14:00 UTC (dollar).

Trend analysis (Fig. 1).

The market may continue to move down from the level of 1.1839 (closing of Tuesday's daily candle) with the target of 1.1815 - the 38.2% retracement level (red dotted line). When testing this level, an upward pullback is possible with the target at 1.1837 - the lower fractal (yellow dashed line). Upon reaching this level, the upward movement may continue.

Fig. 1 (Daily chart)

Comprehensive analysis:

- Indicator analysis - down;

- Fibonacci levels - down;

- Volumes - down;

- Candlestick analysis - down;

- Trend analysis - up;

- Bollinger lines - up;

- Weekly chart - up.

General conclusion:

Today, the price may continue to move down from the level of 1.1839 (closing of Tuesday's daily candle) with the target of 1.1815 - the 38.2% retracement level (red dotted line). When testing this level, an upward pullback is possible with the target at 1.1837 - the lower fractal (yellow dashed line). Upon reaching this level, the upward movement may continue.

Alternative scenario: from the level of 1.1839 (closing of Tuesday's daily candle), the price may move down with the target at 1.1815 - the 38.2% retracement level (red dotted line). When testing this level, the downward movement may continue with the target of 1.1809 - the 21-day EMA (black thin line), where an upward rollback is possible.