Yesterday, the EUR/USD currency pair tested the support level formed by the weekly S1 at 1.1184.
During today's morning, the pair raised to the resistance level formed by a combination of the 100-hour SMA, the weekly and monthly PPs at 1.1220. If the given resistance holds, it is expected, that a reversal south could occur, and the exchange rate could re-test the given support.
However, note, that the rate is supported by the 55– and 200-hour moving averages at 1.1212. Thus, the rate could breach the given resistance and reach the psychological level at the 1.1240 mark.
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.