Despite piercing the support of the 1.1910/1.1915 zone, the rate did not decline, as it found support in the 1.1900 level. During the morning hours of Friday’s European trading, the rate was testing the resistance of the three hourly simple moving averages and the weekly simple pivot point in the 1.1920/1.1930 range.
In the case of the 55, 100 and 200-hour simple moving averages and the weekly simple pivot point providing resistance, the rate would most likely again look for support in the 1.1900 level. If this level gets passed, the pair could reach the 1.1882/1.1887 zone.
On the other hand, the resistance levels could fail. In this case, the EUR/USD would look for resistance in round exchange rate levels. For example the 1.1940, 1.1950 and 1.1960 levels.
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