On Friday, the EUR/USD currency pair reversed north from the monthly PP at 1.1253. During today’s morning, the pair touched 1.1330.
It is likely that the exchange rate could gain support from the 55– and 100-hour SMAs, as well the weekly PP near 1.3050 and trade upwards in the short run. In this case the rate could target the weekly R1 at 1.1366.
Meanwhile, note that the currency pair could face resistance at the 1.1330 mark. If the given level holds, it is likely that the Euro could consolidate against the US Dollar in the short term.
