EUR/USD: 34 MA acted as support

EUR/USD: 34 MA acted as support

2019-11-11 • Updated

25-7-2017-EUR-H4.png

The price is consolidating between the levels 1.1679 - 1.1615. Nevertheless, bulls are likely going to reach the next resistance at 1.1712 in the coming hours. If a pullback from this level happens, there'll be an opportunity to have a decline towards the nearest support at 1.1615.

25-7-2017-EUR-H1.png

The 34 Moving Average has acted as support. Also, the price is testing resistance at 1.1657, which could be a departure point for another decline in the direction of the closest support at 1.1625. Meanwhile, if we see a pullback from this level, bulls will probably try to reach resistance at 1.1679 - 1.1712 afterwards.

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