EUR/USD: price wallow in consolidation
There’s a consolidation, which is taking place on the four-hours chart. It’s likely that the price is going to reach a support at 1.1196 in the short term. If we see a pullback from this level, there’ll be an opportunity to have an upward movement in the direction of the nearest resistance at 1.1256.
The price is moving up and down between the levels 1.1247 – 1.1196. Therefore, bears are likely going to get a support at 1.1196 – 1.1190 during the day. However, if sellers be stopped here, then bulls will probably try to achieve the closest resistance at 1.1256 – 1.1258.