Since Monday, the EUR/USD currency pair has been consolidating in the 1.1820 area.
It is likely that the exchange rate could be pushed down by the 55-hour moving average near 1.1830. In this case the rate could face the support area formed by the 200-hour SMA, the Fibo 61.80% and the weekly S1 in the 1.1689/1.1760 range.
If the predetermined support area holds, the currency pair could try to exceed the given resistance within the following trading session.
