The EUR/USD has broken the ascending channel pattern of the hourly chart and declined below the 55-hour SMA.
By the middle of Tuesday’s London trading hours, the rate had reached the weekly pivot point and a 100-hour SMA at 1.1015 and pierced these levels.In the near term future, the rate is expected to break off the mentioned technical levels.
In the case of a decline, the rate would reach for the 200-hour simple moving average near 1.0995. On the other hand, a surge could reach the 55-hour SMA at 1.1029.
