EUR/USD: bears faced with support

EUR/USD: bears faced with support


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.



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