The common European currency continued its decline against the US Dollar, as it was expected on Monday.
On Tuesday morning the pair had already rebounded against the combined support of the medium pattern and the 200-hour SMA near the 1.1940 mark. Due to that reason a surge was expected.
However, the rebound is most likely going to be hindered by the 100-hour SMA until the pair reaches the weekly PP at 1.1999, which will be supported by the 55-hour SMA.
Most likely that combined resistance will force the rate to continue the decline.
