On Tuesday, the EUR/USD currency pair revealed a short-term ascending channel. During today’s morning, the pair was testing the lower channel line.
From a theoretical point of view, it is likely that a reversal north could occur in the nearest future. In this case the exchange rate could target the psychological level at 1.1340.
Meanwhile, note that the currency pair is pressured by the 55-hour SMA near 1.1294. Thus, a breakout south could occur. Note that the pair could gain support from the weekly and monthly PPs, as well the 200-hour SMA near 1.1250