During Thursday morning hours, the EUR/USD currency pair tested the resistance level—the weekly R2 at 1.1936.
It is likely that some upside potential could prevail in the market due to the support area formed by the 55-, 100– and 200-hour SMAs, as well the weekly R1 and PP in the 1.1856/1.1898 range.
Meanwhile, if the predetermined resistance level holds, the exchange rate could reverse south in the nearest future. In this case the rate could try to surpass the given support area.
