On Thursday, the EUR/USD currency pair traded sideways around the 1.1860 level. During today’s morning, the pair was testing the 100-hour SMA near 1.1820.

It is likely that the exchange rate could be pushed down by the 55-hour SMA near 1.1860. In this case the rate could target the Fibo 61.80% at 1.1707 in the nearest future.

On the other hand, it is likely that the currency pair could gain support from the 200-hour SMA and the weekly PP near 1.1780, and re-test the 2020 high at 1.1903 in the short run.

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