The price is moving up and down on the four-hours chart. Bears faced a support at 1.1165, so the market is likely going to reach the nearest resistance near the downtrend line.
If a pullback from this level happens, there’ll be an opportunity to have a decline towards the 89 Moving Average.
There’s a “Pennant” pattern, so the price is likely going to achieve a resistance at 1.1269 – 1.1278 during the day. However, if we see a pullback from this area, bears will probably try to catch the nearest support at 1.1212.
Origin: FX BAZOOKA
