During Monday morning hours, the EUR/USD currency pair raised to the 1.1860 level.
It is likely that some upside potential could prevail in the market, as the exchange rate could gain support from the 55-, 100– and 200-hour SMAs, as well the weekly PP in the 1.1810/1.1835 range. The rate could target the weekly R1 at 1.1924.
However, if the predetermined support does not hold, the currency pair could trade downwards in the short term. In this case the pair could gain support from the weekly S1 at 1.1749.
