Since the second half of Thursday, the EUR/USD currency pair has been testing the 1.2170 mark.

If the predetermined level holds, it is likely that a reversal south could occur, and the exchange rate could decline to the support area formed by the weekly R1 and R2, as well the 100-hour SMA in the 1.2020/1.2075 range.

In the meantime, note that the currency pair could gain support from the 55-hour moving average near 1.2115 and continue to extend gains in the short term. In this case the pair could target the 1.2250 level.