EUR/USD: 34 MA acted as resistance

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21-8-2017-EUR-H4.png

The 34 Moving Average has acted as resistance, so the price is consolidating. It seems like the market is going to reach the nearest support at 1.1712 - 1.1683. If a pullback from this area happens, there'll be an opportunity to have an upward price movement towards the next resistance at 1.1801 - 1.1846.

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The price is consolidating along resistance at 1.1757. If a pullback from the 55 Moving Average happens, bears are likely going to achieve the closest support between the levels 1.1727 - 1.1712. Nevertheless, we should keep an eye on the next resistance at 1.1784 - 1.1801 as a bullish target.

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