EUR/USD: "V-Bottom" led to the local upward movement
The price faced a resistance at 1.1125 during the current flat. So, the market is likely going to decline towards the nearest support at 1.1097 – 1.1057. If we see a pullback from this area, bulls will probably try to reach the 89 Moving Average line.
We’ve got a flat between the 89 Moving Average and the nearest resistance at 1.1120. Therefore, bears are likely going to achieve an area between the 55 Moving Average and the level at 1.1066 in the short term. However, if a pullback from here happens afterwards, there’ll be an opportunity to see the price on a resistance area at 1.1125 – 1.1145.