The price faced a resistance at 1.0732, so we’ve got a “Double Top”, which pushed the pair towards a support at 1.0640.
Therefore, the market is likely going to continue falling down in the direction of the next support at 1.0594 – 1.0588. If a pullback from this area happens, there’ll be an opportunity to have an upward correction.
There’s a “Double Top”, so the price is consolidating. Also, there’s a “Pennant”, so bears are likely going to test a support at 1.0614 – 1.0597 during the day. Considering a possible pullback from these levels, bulls will probably try to test a resistance at 1.0655.
Origin: FX BAZOOKA
