The EUR/USD currency pair remains to trade below the resistance level—the weekly R1 at 1.2140.
It is likely that the exchange rate could be pushed down by the 55-hour moving average near 1.2130. In this case the rate could gain support from the weekly PP and the 200-hour moving average in the 1.2050 area.
If the predetermined support holds, the currency pair could trade sideways within the following trading session. Otherwise, the pair could target the 1.2000/1.2020 range.
