Never catch a falling knife unless you have full knowledge on what price does and what levels the buyers and sellers are waiting at.
Once again, good spot. Price bounced off current levels on numerous occasions, most notably on the 12th and 13th of October 2015 and 3rd and 4th of December of that same year. This could basically be the much wanted correction and retest of the breakout we saw the 4th of March. If we bounce off this level in the coming days we could see higher again. If we have a clear break and hold lower I could see price move back to 0.7020 region.