Yesterday, the EUR/USD currency pair traded sideways between the psychological levels at 1.1300 and 1.1320 respectively.

Given that the pair is supported by the 55-hour SMA, currently located at 1.1305, it is likely, that some upside potential prevails in the market. A possible upside target is the 1.1330 level.

Otherwise, it is expected, that the exchange rate continues to trade sideways between the given psychological levels.

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It is unlikely, that the rate could decline lower than 1.1280 due to the support level formed by the weekly and monthly PPs.

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