EUR/USD Forecast: bulls going to test the nearest resistance

forexnews4_ eurThe price faced a support on the 89 Moving Average, so we’ve got a “V-Bottom” here. Therefore, the market is likely going to reach the nearest support at 1.0719 – 1.0745 in the short term.

If a pullback from this level happens, there’ll be an opportunity to have another decline towards a support between the 89 MA and the level 1.0624.

EUR/USD: bulls going to test the nearest resistance

We’ve got a “V-Bottom”, so the price is consolidating. In this case, we should keep an eye on the nearest resistance at 1.0739 – 1.0745 as a possible intraday target. However, if we have a pullback from this area, bears will probably try to achieve a support at 1.0678 – 1.0669 afterwards.

EUR/USD: bulls going to test the nearest resistance

Origin: FX BAZOOKA

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