Price zone 1.0200 - 1.0235, which corresponded to a downtrend line, was broken through obviously. The continuation of flag pattern failed to reverse price to the upside on retesting due to the strong bearish pressure which pushed the pair again inside the channel below 1.0100.
Bearish rejection around 1.0300 was followed by multiple days of indecision within the same consolidation range 1.0225 - 1.0330 until the pair gave obvious 4H closure below 1.0250 and 1.0200. It led to a quick rally towards 1.0150 then 1.0100.
Daily closure below 1.0085 ( 50.0% Fibonacci ), that took place on Friday, opened the way towards the next support level around 1.0016-0.9995 ( 61.8% Fibonacci ) especially that there are no signs of obvious bullish rejection until now.
Price action should be watched around 1.0015-0.9995 ( 61.8% Fibonacci & Previous low established on on February 14 ) for a possible BUY entry with SL as 4H closure below 0.9950 .
Consolidation above 1.0085 will probably bring bulls to the market to target 1.0135 initially.