EUR/USD: 34 Moving Average acted as resistance

EUR/USD: 34 Moving Average acted as resistance


The 34 Moving Average has acted as resistance, so the price so consolidating. It's likely that the pair is going to reach the nearest resistance at 1.1627. A pullback from this level could be a departure point for a decline towards the next support at 1.1548 - 1.1526.


The market is consolidating along the Moving Averages. The main intraday target is the closest resistance at 1.1619 - 1.1634. If a pullback from this area happens next, bears will probably try to reach another support at 1.1574 - 1.1548.



Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.


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