On the daily chart, the pair has overcome the" round "level of 0.7200 and is not far from the next "round" level of 0.7300. The resistance at this level is strengthened by the fact that there is a minimum of July near it. In addition, the size of the rebound has now reached 150 points, which is a lot for ordinary movements of the pair without corrections. Although the pair's relative highs continue to decline, a sharp reversal may suggest a continuation of the movement in the short term. The next strong resistance will be at 0.7400-support in early July and resistance in late July and early August. According to ADX, the downward trend continues: the excess of DM-over DM+ is large, ADX is at a high level. The MACD histogram remained in the negative zone, although it is close to the zero level.
On the four-hour chart, the growth that occurs after approaching 0.7100 slowed down. The pair met resistance at 0.7270-near the highs on August 18. A large size of the growth wave without corrections (more than 150 points) can lead to a pullback when the wave stopped - this can happen now. However, in the broader perspective, the current growth from 0.7100 is more likely a reversal of the trend than a correction to the previous decline. Based on this, overcoming the level of 0.7270 is more likely than a pullback from the initial correction point above 0.7100. According to the directional movement indicators, the trend has become growth: DM+ is higher than DM+, the ADX level remains relatively high, the MACD histogram is in a positive zone, the MACD line has a positive slope.