On Thursday, the EUR/USD currency pair jumped to 1.1900 and reversed south. During today’s morning, the pair was testing the monthly PP at 1.1867.
It is likely that the exchange rate could gain support from the 55– and 100-hour SMAs near 1.1810, and trade upwards in the short term. In this case the rate could target the 1.1920/1.1940 range.
However, if the given resistance holds, it is likely that the Euro could trade sideways against the US Dollar within the following trading session.
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