EUR/USD: bulls going test next resistance

EUR/USD: bulls going test next resistance


The price is consolidating under resistance at 1.1679. However, bulls are likely going to test the next resistance at 1.1712. If we have a pullback from this level, there'll be an opportunity to have a downward correction towards the nearest support at 1.1615.


Bulls faced resistance at 1.1679, which pushed the price lower. So, we should keep an eye on the closest support at 1.1654 as an intraday bearish target. Nevertheless, the market is likely going to reach another resistance at 1.1712 afterwards.




Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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