EUR/USD: "Flag" points to new local low
There’s a local consolidation, which is taking place under the nearest resistance at 1.1032. So, the price is likely going to test a support at 1.0951 in the short term. If a pullback from this level happens, there’ll be an opportunity to have a bullish price movement towards a resistance at 1.1045.
We’ve got a “Flag” on the one-hour chart, so bears are likely going to reach the next support at 1.0960 – 1.0951 during the day. At the same time, there’s an option to see an upward movement in the direction of the 34 Moving Average afterwards.