The last “Flag” pattern has been broken, so the price reached a support at 1.0522.
Therefore, the market is likely going to test the nearest resistance at 1.0568 – 1.0659.
If we see a pullback from this area, there’ll be an opportunity to have another decline towards the next support at 1.0493 – 1.0461.
The price is consolidating between a resistance at 1.0565 and a support at 1.0522. At the same time, bulls are likely going to reach another resistance at 1.0600 – 1.0617 during the day. If a pullback from these levels happens, bears will probably try to get a support at 1.0522 – 1.0493.
Origin: FX BAZOOKA
