The 4-hour chart shows that the price is still in the midst of a recovery from the recent drop and broader market sentiment will play a key role in this recovery. So, there is a high likelihood that we might see the pair trading above the 1.1000 price level again this week. On the downside, the 1.0870 area of confluence has recently been held as a firm support, failure to defend the mentioned support levels has the potential to drag the pair further towards the 1.0840/30 support zone.
