Bears faced a support at 1.0600, so the price is consolidating. Meanwhile, the market is likely going to continue falling down towards the next support at 1.0550 – 1.0522.
If a pullback from this area happens, there’ll be an opportunity to have a bullish movement in the direction of the nearest resistance at 1.0636 – 1.0673.
We’ve got a consolidation, which is taking place between a support at 1.0561 and a resistance at 1.0636. If we see any bearish pattern later on, the pair is likely going to reach a support at 1.0550 – 1.0522. However, if a pullback from these levels arrives, bulls will probably try to deliver an upward correction.
Origin: FX BAZOOKA
