The price faced a resistance at 1.2548, so bears are likely going to test a support at 1.2468 – 1.2432 in the short term.
If we see a pullback from this area, there’ll be an opportunity to have a bullish price movement towards the nearest resistance at 1.2548 – 1.2619.
The pair is consolidating between the 34 Moving Average and the level 1.2548. In this case, the market is likely going to decline in the direction of the closest support at 1.2468 – 1.2432. Considering a possible pullback from these levels, we should keep an eye on the next resistance at 1.2548 – 1.2581 as a possible intraday target.
Origin: FX BAZOOKA
