$RED

Despite the recent sharp downtrend, the current consolidation near 0.6838 indicates a potential base for a bullish reversal. If buying pressure increases, a move back towards the 0.7280 resistance could be expected, signaling a potential recovery and a move to retest higher levels.

Traders should watch for a break above the 0.7280 level, which would confirm the bullish reversal and open the path towards retesting the previous highs near 0.8637 and 0.8965. Increased volume on the upward move would further validate the bullish scenario, potentially leading to new highs.#RED #downtrend #bullish