During Monday’s session, the EUR/USD currency pair surpassed the 1.1180 level. During Tuesday’s morning, the pair was testing the 200-hour SMA at 1.1203.
If the given moving average does not hold, it is likely, that the exchange rate could continue to extend gains. In this case, the rate could surpass the psychological level at the 1.1220 mark.
On the other hand, the rate could trade sideways between the given SMA and the support level formed by a combination of the 55– and 100-hour moving averages at 1.1161. If the given support does not hold, the pair could decline to the 1.1140 mark.
