Daily: The price has once respected the channel boundaries & bounce from the bottom range to the upside. A sustained move below 1.72 would prompt the price lower to 1.7125 & 1.7075.
4H: The price has briefly closed below the 1.72 region. However a proper retest is needed to confirm whether the 1.72 will hold as the new resistance.
1H: The price is seems to be losing bearish momentum as it failed to make more significant lower low. More confirmation is needed on 1.72 region.
