Since Friday, the EUR/USD currency exchange rate has been fluctuating between the support of the 1.1850 mark and the resistance of the 1.1925 level. In the near term future, the situation could change due to the approaching of the hourly simple moving averages from above.
In the case that the rate passes the support of the 1.1850 mark, it could first look for support in the 1.1800 level. Below it, the weekly S1 simple pivot point at 1.1761 could hold the rate up. If the S1 fails, the pair might aim at the 1.1700 level.
On the other hand, a potential surge would first face the 100-hour SMA at 1.1935 and the weekly simple pivot point at 1.1954. Above these levels, the 200-hour SMA and the 1.2000 mark could act as resistance.
Written by Admin
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