EUR/USD: local upward movement going to move on
Bulls faced a resistance on the 34 Moving Average, so the price is currently declining. Considering the last “Double Top” pattern, the market is likely going to get a support at 1.1235 – 1.1222 in the short term. If we see a pullback from this area, there’ll be an opportunity to have a correction towards a resistance at 1.1365 – 1.1381.
We’ve got a consolidation along the Moving Averages. It’s likely that the price is going to reach a resistance at 1.1282 – 1.1324 during the day. However, if a pullback from these levels happens, bears will probably try to catch the next support at 1.1244 – 1.1235.