The common European currency has retreated against the US Dollar down to the 1.1440 mark. At that level the pair had met the support of a dominant pattern and surged.
By the middle of Tuesday’s trading the EUR/USD pair was located at a strong resistance near the 1.1480 mark. If this level is passed, the currency exchange rate would surge up to the 1.1520 mark, where the weekly PP is located at.
On the other hand, the pair might fail to pass the resistance and once more retreat downwards to the 1.1462 level. At that level a 50.00% Fibonacci retracement level was located at.
