The pair declined during morning trading, breaching the bullish trend line shown on the 4 hour chart, but is still supported by the SMA 50 in conjunction with Stochastic entering the oversold area.
The potential bullish scenario that has achieved its first target at 1.0060 remains intact as long as the pair remains above 0.9980 and could be heading to its second target at the November high of 1.0125 which breached a daily closing might push the price to target at least 1.0225 resistance.
A breach of the uptrend structure, which is confirmed by a four hour closing below 0.9980, might be enough to end the bullish scenario and the price could then target the support level 0.9910 as the first target and then 0.9840 as the second target
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