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EUR/USD: market going to reach next resistance

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The price is consolidating near the 55 Moving Average. It seems like bulls are going to test the 34 MA, which could be a departure point for a decline towards the nearest support at 1.1108.

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Bulls faced resistance at 1.1165. However, the market is likely going to reach the next resistance at 1.1181 - 1.1193 in the coming hours. If a pullback from this area happens, there'll be an opportunity to have a downward price movement in the direction of support at 1.1131 - 1.1118.

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