On Wednesday, the EUR/USD currency pair raised to the 1.1820 level. During today’s morning, the pair was trading at 1.1830.

It is likely that the exchange rate could gain support from the 55-, 100– and 200-hour SMAs, as well the weekly PP in the 1.1770/1.1800 area. Thus, it is likely that some upside potential could prevail in the market.

Meanwhile, it is unlikely that bears could prevail in the market, and the currency pair could decline below the Fibo 61.80% at 1.1707 within the following trading session.

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