On Monday, the EUR/USD currency pair dropped to the weekly S1 at 1.1819 and reversed north.
It is likely that the exchange rate could gain support from the 55– and 100-hour moving averages, as well the weekly PP near 1.1860. Thus, some upside potential could prevail in the market.
Meanwhile, note that the currency pair could face the resistance level—the weekly R1 at 1.1898. If the given resistance holds, a reversal south could occur, and the pair could target the weekly S1.
