On the daily chart, an important change is that the pair came out of consolidation after an upward decline. This can form a strong base at 1,2300. Another bullish signal is the formation of a growth candle after a "shooting star". Not confirming a bearish signal is in this case a bullish signal. The upper limit of consolidation in the second half of October, 1.2400, is now a support.
On the four-hour chart, the pair moved up from the range of 1.2300-1.2400. The relative lows of the pair are now consistently rising. According to the directional movement indicators, the growth trend is increasing: the excess of DM+ over DM- is increasing, the MACD histogram is in a positive zone, the MACD line has a positive slope. The nearest support is the level of 1.2450 (near the previously overcome relative maximum).
Resistance levels: 1.2500; 1.2545
Support levels: 1.2450; 1.2400