The underlying market structure is bearish based on the technicals – the market is below the 200-day moving average and below the Ichimoku cloud. Also the tenkan-sen and kijun-sen lines are negatively aligned. MACD is bearish and so is RSI although it is oversold.
The 78.6% Fibonacci retracement level of the upleg from 0.8659 – 0.9503 at 0.8840 is the next barrier to the upside and a break above this would open the way towards the 61.8% Fibonacci at 0.8981. A daily close above the key 0.9000 level would weaken the bearish bias.