During Friday morning hours, the EUR/USD currency pair tested the resistance level—the weekly R1 at 1.2185.
If the predetermined resistance level holds, it is likely that some downside potential could prevail in the market. Note that the exchange rate could gain support from the 55-, 100– and 200-hour SMAs, as well the weekly PP in the 1.2120/1.2140 range.
If the given support area holds, the European Common Currency could trade sideways against the US Dollar within the following trading session.
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