The price has been declining since Monday. Bears faced a support at 1.1011, so there’s a local consolidation in progress.
Meanwhile, the market is likely going to reach the next support at 1.0978 in the short term.
If we see a pullback from this level, there’ll be an opportunity to have an upward correction.
There’s a consolidation, which is taking place under a resistance at 1.1032. Therefore, bears are likely going to reach a support at 1.1000 – 1.0978 during the day. If a pullback from this area happens, bulls will probably try to reach a resistance at 1.1045 – 1.1069.
Origin: FX BAZOOKA
