Yesterday, the EUR/USD currency pair jumped to the psychological level at the 1.1230 mark.
Given that the pair is supported by the monthly PP at 1.1217 mark, it is likely, that bulls could prevail in the market in the nearest future. A possible upside target is the psychological level at 1.1250.
On the other hand, it is expected, that the exchange rate could trade sideways, trying to breach the given resistance.
It is unlikely, that the rate could decline lower than the 1.1200 mark due to the support level formed by the 55-, 100– and 200-hour SMAs, the weekly PP and the Fibo 38.20%.
