On Monday, the EUR/USD currency pair reversed north from the psychological level at 1.1620.
It is likely that the exchange rate could face the resistance level—the Fibo 61.80% at 1.1707. Thus, a reversal south could occur, and the rate could re-test the predetermined psychological level.
Meanwhile, note that the currency pair could gain support from the 55-hour SMA near 1.1655. In this case the pair could trade upwards and try to exceed the 200-hour moving average near 1.1755.
