On Friday, the EUR/USD currency pair jumped to the 1.1920 level. During today’s morning, the pair was testing the given level.
From the one hand, it is likely that some upside potential could prevail in the market, as the exchange rate should target the upper line of the medium-term ascending channel circa 1.1990.
Meanwhile, note that the rate would have to exceed the 2020 high, as well the weekly R1 at 1.1963. If the given resistance holds, it is likely that a reversal south could occur.
