Daily Pivots: (S1) 0.8960; (P) 0.8983; (R1) 0.9011; More….
Break of 0.9000 minor resistance indicates short term bottoming at 0.8886. Intraday bias is back on the upside for 0.9086 resistance first. Firm break there will bring retest of 0.9243 high. On the downside, however, break of 0.8886 will resume the fall from 0.9243 to 61.8% retracement of 0.8551 to 0.9243 at 0.8815 next.
In the bigger picture, rebound from 0.8551 might be completed as a correction at 0.9243. In other words, larger fall from 1.0146 (2022 high) is possibly not over yet. Risk will now stay on the downside as long as 0.9243 resistance holds. Firm break of 0.8551 will confirm down trend resumption.
