On Monday, the EUR/USD currency pair breached the 55, 100– and 200– hour SMAs. The exchange rate surged by 47 pips or 0.39% during Monday’s trading session.
The Euro could continue to strengthen against the US Dollar during the following trading session. Buyers are likely to push the price towards the weekly resistance level at 1.2247.
However, bullish traders might encounter resistance at 1.2220 during Tuesday’s trading session.
