No worries, technical charts of all time frames for this pair appear to be extremely weak.
These swings are making an attempt to test support at 1.9309 levels which is 38.2% retracements from the peaks of 2.2372.
Despite leading oscillators reaching oversold zones, we see no strength in this pair, instead they signal more momentum in the selling pressures of this pair.
on monthly is currently trending near 49.1636, while %D crossover on slow still maintains around 30 levels that signify momentum is continuing in long run.
As a result, bears have landed into 38.2%, a decisive break below 1.9309 would bring in more environment in the near future.
A sharp rise in volumes with steep fall in price would mean strong trend: Please have a look on volumes histograms on every price decline, this is also in conformity to the strong .
To substantiate this stance, lagging indicators are also in convergence with price declines; you can figure this out from monthly chart, has given continuation signal. And on weekly charts, The current prices have slid below moving average curves, 21MA has just crossed over 7MA which is a sell signal.
Overall, any upswings in abrupt are not panicky as the pair has fallen from the formation of 1st at 2.2370 up to 1.9309 levels, a break below would take it to 50% retracements for sure.