The nearest Moving Averages acted as a resistance, so we’ve got a “Double Top”, which pushed the market towards a support at 1.0594.
Therefore, the price is likely going to test a resistance at 1.0658, which could be a departure point for another decline.
Bears faced a support at 1.0619 – 1.0607, so bulls are likely going to reach the closest resistance at 1.0650 – 1.0655. If a pullback from this area happens, we should keep an eye on the next support at 1.0588 – 1.0578 as a possible intraday target.
Origin: FX BAZOOKA
