supply zone.
The EUR/USD pair had made higher high at the level of 1.0971, so the bulls are still in control of the market and then started a pull-back. The price break below the 50 MA around the level of 1.0917 and now the bulls are trying to resume the up move again. The next target for bulls is seen at the level of 1.1007 and the intraday technical support is seen at 1.0917 and 1.0905.
The momentum is coming off the extremely overbought levels, heading towards the neutral level of fifty on the RSI (14) indicator. Please expect bears to defend the supply zone located between the levels of 1.1006 - 1.0999.
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