EUR/USD: bears going to break the "Triangle"
There’s a consolidation in progress under the 34 Moving Average. It seems like the price is about to finish forming the local high. Therefore, the market is likely going to reach a support area between the levels 1.1057 – 1.1032 in the short term. If a pullback from here happens afterwards, there’ll be a chance to see an upward movement in the direction of the nearest resistance by the 55 Moving Average.
As we can see on the one-hour chart, we’ve got a flat inside the current “Triangle” pattern. Its lower side is likely going to be broken shortly, so we should keep in mind a support at 1.1032 as the next possible intraday target. If we see a pullback from this level later on, bulls will likely try to achieve a resistance at 1.1179 – 1.1188.