After a strong declines from the end of last week, even on Monday bears trying to push prices to new lows. This did not happen, and formed a higher high and then another. Price returned above simple average of the 20-periods forming part of Bollinger Bands.
Just nowe created a candle pin bar formation, which tests from the top support that it provides SMA 20, which may indicate further growth and the creation of the next higher high. The nearest resistance in this case is close to level of 0.7500.
This outlook will be negated only if the closing price below the minimum of pin bar on the 4-hour chart.
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