Despite an initial sharp drop that was caused by the Federal Reserve on Wednesday, on Thursday, the EUR/USD had recovered and reached above the resistance of the 1.1850 marks. In addition, the rate had passed the resistance of the weekly R2 simple pivot point at 1.1864.
In the near term future, the pair could continue to surge and reach for the resistance of the weekly R3 simple pivot point at 1.1897 and the 1.1900 marks.
On the other hand, a potential decline would look for support in the weekly R2 simple pivot point at 1.1864 and the 1.1850 marks.
