Yesterday, the EUR/USD currency pair was volatile, likely due to Jackson Hole symposium. During Friday’s morning, the pair declined to the 1.1060 level.
Note, that the exchange rate is pressured by the 55– and 100-hour SMAs, currently located circa 1.1090. Thus, it is likely, that some downside potential could prevail in the market. The nearest support level is the weekly S1 at 1.1028.
On the other hand, the pair could trade sideways within the following trading hours, as the market participants might wait for a speech by the Fed Chair Jerome Powell at 14:00 GMT.
