On Friday, the EUR/USD currency pair reversed south from the psychological level at 1.1860.
It is likely that the exchange rate could gain support from the 200-hour SMA and the monthly PP in the 1.1785 area and reverse north in the nearest future. The rate could try to exceed the resistance formed by the 55– and 100-hour SMAs near 1.1835.
In the meantime, note that the currency pair could face the resistance level formed by the weekly PP at 1.1817. If the given level holds, the pair could trade sideways within the following trading session.
