The 89 Moving Average has acted as resistance, so the price is consolidating. Nevertheless, the pair is likely going to test the next resistance at 1.1848 – 1.1860 in the short term. If a pullback from this area happens little later on, there’ll be an opportunity to have a bearish correction towards the nearest support at 1.1793 – 1.1772.
The price is consolidating between the levels 1.1822 – 1.1793. The main intraday target is the closest resistance at 1.1848 – 1.1860. However, if we see a pullback from these levels, bears will probably try to achieve another support at 1.1822 – 1.1793.
EUR/USD H4
EUR/USD H1
