The recovery of the EUR/USD found resistance on Thursday in the 55-hour simple moving average. On Friday morning, the rate was being pushed down by the SMA into the support of the weekly S1 simple pivot point at 1.1532.
If the EUR/USD passes the support of the weekly S1 simple pivot point, the rate might find support in the round exchange rate level of 1.1500. Below this level, the weekly S2 simple pivot point at 1.1464 might stop a larger decline.
On the other hand, the currency exchange rate might pass the resistance of the 55-hour simple moving average. A passing of the SMA might find resistance in the 100-hour SMA at 1.1580. Above the 100-hour SMA, the 200-hour SMA and the 1.1600 level might act as resistance.
