The price faced a resistance at 1.1186, which led to the current decline. So, the market is likely going to get a support at 1.1145 – 1.1120 in the short term. However, if we see a pullback from this area, then bulls will probably try to deliver a new high.
There’s a possible “Double Top” pattern in progress. Therefore, bears are likely going to reach the 89 Moving Average during the day. At the same time, bulls are still strong enough, so we should keep an eye on the next resistance at 1.1196 – 1.1222 as an intraday target.
EUR/USD, H4
EUR/USD, H1
Origin: FX BAZOOKA
