Yesterday, the EUR/USD currency pair re-tested the lower line of the short-term ascending channel.

From a theoretical point of view, it is likely that some upside potential could prevail in the market, and the exchange rate could re-test the upper channel line located in the 1.1820/1.1840 area.

If the given channel holds, the rate could reverse south and continue to trade within the predetermined channel. Otherwise, the pair could touch the weekly R2 at 1.1855.

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