Yesterday, the EUR/USD currency pair tested the support provided by the 55-hour moving average near 1.1790.
It is likely that the exchange rate could gain support from the 100– and 200-hour moving averages in the 1.1800 level and trade upwards in the short term. In this case the rate could target the 1.1900 level.
In the meantime, it is unlikely that bears could prevail in market, and the currency pair could decline below the psychological level at 1.1740.
