The European Single Currency depreciated 1.06% since Friday’s trading session. The currency rate passed the monthly pivot point at the 1.1546 mark during Monday morning hours.
The EUR/USD should move upwards to the weekly PP at the 1.1581 and bounce off it to move downwards to stay at the 1.1550 level during the trading day. The support of the monthly PP at the 1.1546 should support the movement for the currency.
In another scenario, the European Single Currency might pass the weekly PP at the 1.1581 to surge to the simple moving averages.
