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On Tuesday, the EUR/USD currency pair reversed north from the support level—the weekly S1 at 1.2159.

It is likely that some downside potential could prevail in the market as the exchange rate is pressured by the 55– and 100-hour SMAs, as well the weekly PP in the 1.2200/1.2220 range.

However, if the predetermined support holds, it is likely that the European Common Currency could trade sideways against the US Dollar within the following trading session.