As for the rationale, technical traders seem to be citing the appearance of a trendline technical pattern.
For additional context, note that price has gone up 9 out of the past 14 days.
The closest is the 100 day average, which is 117.8 pips away.
This move is a reversal from the hour prior, which saw price move up.
It should be noted, though, the 20 day simple moving average turned upwards, which may be a bullish sign.
The closest is the 20 day average, which is 40.5 pips away.
The clearest trend exists on the 30 day timeframe, which shows price moving down over that time.
For additional context, note that price has gone up 8 out of the past 14 days.
As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa.
The closest is the 20 day average, which is 91.4 pips away.