On Friday morning, the EUR/USD passed the resistance of the weekly simple pivot point and the 100 and 200-hour simple moving averages, which were located near the 1.2100 level.
In the near term future, the rate was expected to test the resistance of the weekly R1 simple pivot point at 1.2175. In addition, note that the 1.2180 level should provide resistance, as it had done so in the recent past.
If the 1.2175/1.2180 zone holds, the rate should decline back to the 1.2100 mark. On the other hand, the weekly R3 at 1.2227 could be reached in the case of a breaking of the mentioned resistance levels.
Written by Admin
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