The common European currency remained stable against the Greenback on Friday. Even though technical indicators showed signs of recovery and were actually edging higher during the day, the pair failed to gather the necessary bullish momentum to dash through 1.1680. This significant resistance cluster is formed by the 55-, 100– and 200-period SMAs both on the 1H and 4H time-frames.
This session lacks important fundamental releases, so it is likely that the given level remains intact today, as well. Given all this into account, it is expected that the Euro weakens and tries to approach the bottom boundary of a two-month symmetrical triangle and the weekly S1 at 1.16.
By and large, the Euro should hinder near the 1.1680 for a few sessions prior to breaching this mark and surging towards 1.1750.
