EUR/USD: pair consolidating between Moving Averages

EUR/USD: pair consolidating between Moving Averages

2506eurusdh4.png

The pair is consolidating between the Moving Averages. Previously, we had an 'Engulfing' pattern. It's likely that the price is going to test the nearest resistance at 1.1704, which could be a starting point for another decline.

2506eurusdh1.png

The 144 Moving Average is acting as support, so there's an 'Engulfing' pattern. Even so, the market is likely going to test the closest support at 1.1628 once again. If a pullback from this level happens next, there'll be a moment to have a bullish price movement.

eur

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