The price is consolidating near the trend line. Also, we’ve got a “Double Bottom” pattern, which has been confirmed enough. Therefore, bears are likely going to reach a support at 1.2913 in the short term.
Meanwhile, if a pullback from this level be on the table, buyers will probably try to catch a resistance at 1.3056 – 1.3089.
There’s a flat, which is taking place between the 34 Moving Average and the uptrend line. So, the market is likely going to get a resistance on the 55 Moving Average in the short term. Considering a possible pullback from this line, there’s an opportunity to have an achievement of a support at 1.2913 afterwards.
Origin: FX BAZOOKA
