Trend Analysis (Fig. 1).

On Wednesday, from the level of 1.1645 (yesterday's daily close), the market may continue moving downward toward the target of 1.1600 – the 38.2% retracement level (blue dotted line). Upon testing this level, a price rebound upward is possible toward 1.1640 – the 61.8% retracement level (yellow dotted line).

Fig. 1 (daily chart).

Comprehensive Analysis:

• Indicator analysis – downward;
• Fibonacci levels – downward;
• Volumes – downward;
• Candlestick analysis – downward;
• Trend analysis – downward;
• Bollinger Bands – downward;
• Weekly chart – downward.

Overall conclusion: bearish trend.

Alternative scenario: From the level of 1.1645 (yesterday's daily close), the price may continue moving downward toward the target of 1.1560 – the 50% retracement level (blue dotted line). Upon testing this level, a price rebound upward is possible toward 1.1594 – the 50% retracement level (yellow dotted line).