On Tuesday, the EUR/USD currency pair tried to surpass the resistance formed by the 55– and 100-hour SMAs near 1.0860. During today’s morning, the pair pierced the given resistance.
It is likely that the exchange rate could re-test the resistance cluster formed by the Fibo 23.60%, the weekly PP and the 200-hour SMA in the 1.0880/1.0900 area.
If the given resistance does not hold, it is likely that the rate could target the psychological level at 1.0940. Otherwise, it is likely that the pair could re-test the local support level at 1.0820.
