Downside risk continues to prevail in the market as of Friday’s session. The bearish movement for the EUR/USD currency pair was temporary stopped after the pair reached the lower boundary of a dominant channel.
The exchange rate has been guided lower by the 55– hour simple moving average since April 19. The first part of Monday’s trading session was relatively calm as the currency pair was trading with low volatility.
Everything being equal, a breakout through the upper boundary could be expected during the next 24hrs
