As shown in the chart below, daily price action broke above the resistance level at $1.64 to print a higher high around $1.66 zone. Following this higher high, price has now pulled back to find support at uptrend line and the EMA’s. Forming a breakout and a pullback to its previous support structure.
On the 4H timeframe following the retest of the uptrend line, price has broke above all of the key EMA’s and now pullback to retest them and also the price support 1.64. Price has also printed a Bullish candle with a lower wick signalling the build up of Bullish pressure. A break and close above the 4H bullish low test candle would confirm further Bullish bias for this Forex pair.
