On Thursday, the EUR/USD currency pair tested the support level – the weekly S1 at 1.0823. During today’s morning, the pair was re-testing the given support.
It is likely that the exchange rate could be pushed down by the 55-, 100– and 200-hour SMAs near 1.0900. In this case the rate could target the psychological level at 1.0760.
However, if the given support level holds, a reversal north could occur. However, note that the pair could face the resistance formed by the Fibo 23.60% and the weekly PP at 1.08860. If the given resistance holds, the rate could consolidate.
