On Thursday, the EUR/USD currency pair raised to the 1.1250 level. During today’s morning, the pair surpassed the monthly R2 at 1.1285.
On the one hand, the exchange rate could continue to go upwards within the following trading session. However, note that the rate would have to surpass the weekly R3 at 1.1367.
If the given level holds, it is likely that a reversal south could occur in the nearest future. In this case it is unlikely that the pair could drop below 1.1180 due to the support formed by the 55– and 100-hour SMAs, as well the monthly R1.
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