EUR/USD: bulls going to test nearest resistance

EUR/USD: bulls going to test nearest resistance

EUR/USD: bulls going to test nearest resistance

The price is still consolidating between the levels 1.0629 – 1.0678. Considering a possible reversal pattern, the market is likely going to test the nearest resistance at 1.0732. If a pullback from this level happens, there’ll be an opportunity to have a decline towards a support at 1.0655.

EUR/USD: bulls going to test nearest resistance

We’ve got a pullback from a support at 1.0629, so a “V-Bottom” pattern has been formed. In this case, bulls are likely going to reach the 89 Moving Average during the day. However, if a pullback from this line happens, bears will probably try to achieve the nearest support at 1.0655 – 1.0639.

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