Yesterday, the Euro continued to consolidate against the US Dollar between the weekly and monthly PPs, located at 1.1038 and 1.1069 respectively.

During Friday morning, the EUR/USD currency pair maintained its consolidation. If the given support and resistance levels hold, it is likely that the pair could continue to trade sideways in the short run.

However, note that the exchange rate is supported by the 55-, 100– and 200-hour SMAs, currently located circa 1.1050. Thus, some upside potential could prevail in the market, and the rate could target the upper line of the short-term ascending channel at 1.1100.

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