As we expected in last Friday's review, the price reached the target level of 0.7227 on the second attempt and rolled down from it. But this morning the price is trying to repeat the attempt to overcome the 0.7227 level. The attempt is unlikely to be successful due to the national holiday in the US, so today we are waiting for the price consolidation at current levels. It is possible that tomorrow investors will change their minds about fighting technical resistances and will prefer an easier way of selling with a target of 0.7065.
The price moved higher from the MACD line on the four-hour scale, but it does not mean it is determined to grow. Such a signal will be a breakthrough of 0.7227. The signal for a decline will be the departure under the MACD line, below the 0.7165 mark.
