On the four-hour chart, under the resistance level of 0.7030, a Three Black Crows candlestick analysis pattern was formed, after which the trading instrument showed a decrease to the area of 0.6912. In addition, the Bear Marubozu pattern was included in this model, emphasizing the predominance of sellers. Currently, quotes have formed a Hanging Man figure, which in this situation may mean a continuation of the downtrend. A likely scenario is a decline to the support level of 0.6862, overcoming which will allow the "bears" to go lower, to the levels of 0.6680, 0.6420. An alternative scenario can be realized if the "bulls" hold their positions and the quotes recover to the resistance level: a breakout of the key level of 0.7030 will open the way for buyers to the range of 0.7184–0.7400.
On the daily chart, under the resistance level of 0.7184, a reversal candlestick pattern Evening Doji Star is observed, after which the asset began to decline down to the level of 0.6912. This pattern is a strong signal to alert traders to declining long positions, giving the "bears" an opportunity to correct the price down. A more likely scenario at the moment is a downtrend towards the key support level of 0.6862. A breakdown of this level will mean the final weakening of the "bulls", which will strengthen the downtrend of the instrument to the zone of 0.6680–0.6420.
Support and resistance
Support levels: 0.6862, 0.6680, 0.6420. | Resistance levels: 0.7030, 0.7184, 0.7400.