EUR/USD showed no changes to its price level on Friday, as it remained fluctuating around the 200-hour SMA slightly above the 1.23 mark.
The current positioning of the pair suggests that the Euro could edge lower this week in order to approach the bottom boundary of the senior channel, the weekly S1 and the 38.20% Fibo circa 1.2230.
In terms of today, technical indicators are tended northwards that points to a possible push upwards in this session. However, the combined resistance of the 100-hour SMA and the 23.60% Fibo near 1.2350 should provide strong resistance for the pair, especially when the lack significant fundamentals cannot add additional strength to this bullish movement.
Meanwhile, it is unlikely that the pair falls down to its nearest resistance of 1.2250.
