Let’s look at the four-hour chart. Tenkan-sen line is below Kijun-sen, they are both horizontal. Chinkou Span line is below the price chart; current cloud is still descending. After long fall the pair has been corrected above Tenkan-sen line (0.7443) and is trying to break through the lower border of the cloud (0.7485). The next obstacle for the price on its way down will be Kijun-sen line (0.7492).
On the daily chart Tenkan-sen is above Kijun-sen, both lines are horizontal. Chinkou Span line has crossed the price chart from above; current cloud has reversed from descending to ascending. The pair has re-entered the cloud and is trading at its lower border (0.7456). The next support level will be Kijun-sen line (0.7443). The upper border of the cloud is going to be a resistance level (0.7532).
Support levels: 0.7456, 0.7443.
Resistance levels: 0.7485, 0.7492, 0.7532.
On the four-hour chart we can see a correction of the downward movement, on the daily one the price is trading within the cloud, but can soon break it down. Pending sell positions should be placed below 0.7443 with targets at 0.7312.