Bears are still in firm control as the pattern of lower highs and lower lows is still unbroken. A downward sloping line holds any attempt north in check (around 0.03650 currently).
Should market break below the latest low (0.03449) the the lower is likely to be seen (around 0.03300); Bulls could try and get market to bounce from there but if unsuccesfull downside risk extends to the mid 0.02870/0.02800.
Bulls like to see the following scenario; break down to 0.03300 but close above the latest low again. If this can be followed by a move over the latest lower high (0.04150) then a bottom scenario can come into play.