EUR/USD Forecast: price testing 55 Moving Average

usd_eur_news_1The price is testing the 55 Moving Average, which could act as support. If so, the market is likely going to reach the nearest resistance area at 1.1934 – 1.1938. Meanwhile, if a pullback from these levels happens little later on, there’ll be an opportunity to have another decline towards the next support at 1.1884 – 1.1875.

Bears faced with support at 1.1941 – 1.1914, so the price is consolidating. The main intraday target is the 34 Moving Average. If we have a pullback from this line, bears are likely going to reach the closest support at 1.1890 – 1.1871.

EUR/USD H4

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EUR/USD H1

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