In this chart.we can see a major Support level and a retesting of price.It is possible that this pair would run bearish in the long run considering the expected Head & Shoulder formation.But it would be better to wait the price to touch the 1.6400 Round number if we are looking to enter a trade because 1.6400 would be a good and solid entry point.Just an analysis.
NOTE :- I am not a pro trader,still a learner.Feel free to show my mistakes and help me to learn.