EUR/USD: bears going to deliver new low
The price faced a resistance at 1.1196, which led to form a “Double Top” pattern. Therefore, the market is likely going to reach a support at 1.1113 – 1.1093 in the short term. If a pullback from this area happens, there’ll be an opportunity to have an upward price movement in the direction of a resistance at 1.1165 – 1.1181.
Bears found a support at 1.1122, so the price is consolidating. However, the pair is likely going to achieve the next support at 1.1103 – 1.1093 during the day. At the same, bulls will probably try to reach the 55 Moving Average afterwards.