On Wednesday, the EUR/USD currency pair traded sideways around the psychological level at the 1.1370 mark. During today’s morning, the pair was trying to surpass the 55– and 100-hour SMAs, currently located circa 1.1370.
If the given resistance holds, it is likely, that a reversal south could occur in the nearest future. In this case, the exchange rate could be supported by the monthly R2 at 1.1338.
If the given moving averages do not hold, the pair could extend gains. A possible upside target is the resistance level formed by the monthly R3 at 1.1412
