On the daily chart, the pair has remained in the range since mid-September (0.7230-0.7300). A pullback from 0.7300 after the formation of a candle close to the "hammer" may be a bearish signal, since the bullish one has not been confirmed, but the pair remains above the key support zone of 0.7200-0.7230, and in general, the neutralization of the downward trend continues. An exit from the 0.7230-0.7300 range upwards still seems more likely, given the false breakout earlier and the strength of the support level.
On the four-hour chart, the pair remained in the range of 0.7230-0.7300, receiving support at the lower border. While the pair is above 0.7230, the risk of a rebound back to 0.7300 is high. In the broader perspective, the pair remains in a prolonged flat: the movement in a rather narrow range has been maintained since October 20, and the movement after leaving the range may be strong. According to directional movement indicators, there is no pronounced trend: ADX is at a low level, DM+ and DM- intersect, shorter-term indicators indicate a decline: the MACD histogram is declining in the negative zone, the MACD line has received a negative slope.
Resistance levels: 0.7270; 0.7300
Support levels: 0.7230; 0.7200