On Friday, the rate stood at the support of the 55-hour simple moving average at 108.05.

If the SMA manages to push the rate up, it could once more test the resistance of the 108.60 mark. Afterwards, pivot points just above the 109.10 mark would be tested next.

On the other hand, in the case of the SMA failing to provide support, it should decline down to the weekly pivot point at 109.91.

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