We’ve got a “Thorn” pattern, which stopped the last bearish price movement.
So, the pair is trying to break a resistance at 1.0594 – 1.0655. It’s likely that bulls are going to reach the next resistance at 1.0669 – 1.0689.
If a pullback from this area happens, there’ll be an opportunity to have a correction towards the 89 Moving Average.
Bulls faced a resistance at 1.0620, so the price is consolidating. Meanwhile, the market is likely going to test the next resistance at 1.0669 – 1.0689 during the day. Considering a possible pullback from these levels, there’s a chance to have a decline towards a support at 1.0575 – 1.0552 later on.
Origin: FX BAZOOKA
