On Friday, the EUR/USD currency pair tested the 1.1440 level. During today’s morning, the pair broke the Fibo 50.00% at 1.1454.
From the one hand, it is likely that some upside potential could prevail in the market. In this case the exchange rate could target the 1.1500/1.15200 area in the short run.
Meanwhile, note that the rate would have to target the weekly R1 at 1.1487. If the given level holds, it is likely that a reversal south could occur. Note that the pair could gain support from the 55– and 100-hour SMAs, as well the weekly PP and the monthly R1 in the 1.1400 area.
