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On the four-hour chart, the corrective upward movement of the last two candles encountered resistance at the balance and MACD indicator lines. A consolidation above the MACD line, above the 1.1753 level, would allow the price to once again reach this month's high.
A close below the 1.1692 level today would not yet confirm the target at 1.1535, as the MACD line on the daily chart would still be intact. However, a renewed attack on the 1.1692 support tomorrow—if successful—could be a decisive step toward forming a medium-term downtrend.
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