EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: bears faced with support
2019-11-11 • Updated
The 89 Moving Average has been broken, so there's a new local low. In this case, the market is likely going to continue declining towards the nearest support at 1.1837 - 1.1822. If a pullback from this area happens, we could have an upward correction in the direction of the closest resistance at 1.1925 - 1.1952.
Bears faced with support at 1.1837, so the price is consolidating. Therefore, we should keep an eye on the nearest resistance at 1.1864 - 1.1874 as an intraday target. Meanwhile, if we have a pullback from these levels, bears will probably try to catch another support at 1.1837 - 1.1822.
In the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD
The US dollar index has all chances of reaching the 2000s high of 120.00.
The Consumer Price Index announcement by Statistics Canada is set for release in a few hours will reveal the state of inflation in the Canadian economy