The EUR/USD currency pair has revealed a symmetrical triangle pattern.
From a theoretical point of view, it is likely that the exchange rate could reverse north from the lower pattern line circa 1.1810. The rate could re-test the upper pattern line located circa the 1.1855 mark.
Meanwhile, note that the currency pair is pressured by the 55– and 100-hour SMAs in the 1.1830. Thus, a breakout south could occur, and the pair could re-test the support level—the monthly PP at 1.1782.
