During Friday, the EUR/USD currency pair tried to surpass the 1.0950 level. During today’s morning, the pair was trading at the 1.0930 mark.
Note that the exchange rate is pressured by the 55– and 100-hour moving averages, currently located at 1.0935 and 1.0960 respectively. Thus, it is likely that bears could prevail in the market in the short term. In this case the rate has to surpass the 2019 low at 1.0916.
If the given level holds, it is likely that the European Common Currency could consolidate against the Greenback within the following session. Also, it is unlikely that the pair could exceed the 1.0950 area due to the resistance of the upper boundary of the short-term descending channel and the weekly PP.
