On Friday, the EUR/USD currency pair skyrocketed to the 1.0860 level. During today’s morning, the pair dropped to the support provided by the 55– and 100-hour SMAs near 1.0810.
If the given support holds, it is likely that a reversal north could occur in the nearest future. In this case the exchange rate could target the 1.0860 level.
However, note that the rate would have to surpass the 200-hour SMA and the weekly PP at 1.0830. If the given resistance holds, the pair could consolidate in the short term.
