On Friday morning, the EUR/USD was testing the resistance of the 1.1900 level. Note that this level stopped the sudden increase of volatility, which occurred on Thursday. In the near term future, the pair had two scenarios.
In the case of the rate bouncing off the 1.1900 level, it should look for support in the technical levels near 1.1840. Namely, the weekly simple pivot point and the 200-hour simple moving average would provide support. In addition, the 55 and 100-hour SMAs were located at 1.1825 and 1.1820.
On the other hand, if the 1.1900 fails to keep the rate down, the EUR/USD would first test the resistance of the pivot point at 1.1924 and afterwards the high level of 1.1960.
