EUR/USD: 34 MA acted as support

The 34 Moving Average has acted as support, so the price is consolidating. Nevertheless, bears are likely going to test the next support at 1.1757, so we could have a new low soon. If a pullback from this level happens, there'll be an opportunity to have an upward price movement towards the nearest resistance at 1.1801 - 1.1845.

There's a "V-Top" pattern, so the market is likely going to reach the closest support at 1.1757 - 1.1727. However, if we see a pullback from this area, bulls will probably try to achieve resistance between the levels 1.1801 - 1.1818.

Sergey Logachev

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