Price dropped below the Daily Cloud and trend has turned bearish on this timeframe. On the 4 hour chart to he right, we can see how price has tried to break above the descending trendline but has failed every attempt. Though price took out the low from Jan 22 on this sharp drop we just saw, there is bullish divergence (and also hidden bullish divergence between the Jan 17 and 22 lows). Depending on how this current candle close, it will give direction clues going forward. If it closes below the Jan 22 low at 1.10 it may try to push lower towards the 0.875 low, but there seems to be buyer interest at current levels, at least for now which shows both in the long wick candle and the bullish divergence. Bulls would like to see a close above 1.33 (lower Cloud) and 1.37 the S/R level to relieve the immediate bearish pressure. A complete dump from here should be supported by the 0.87 low which is also the Weekly S1.