EUR/USD: bears going to reach the nearest support
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The price faced a resistance at 1.0911, so we’ve got a “V-Top” pattern, which led to the current local decline. Therefore, the pair is likely going to test the nearest support at 1.0811 in the short term. If a pullback from this level be on the table, bulls will probably try to reach a resistance at 1.0873 – 1.0911.
We’ve got a “V-Top” pattern right under a resistance at 1.0911. In this case, the price is likely going to test the 55 Moving Average, which could act as a support. If a pullback from this line happens, there’ll be an opportunity to have an upward price movement in the direction of the nearest resistance at 1.0905 – 1.0911.