The Euro has maintained its upward tendency for the third consecutive session. Despite edging higher on Thursday morning, the Euro had lost all of its daily gains by the evening.
The pair continues to trade in an ascending channel. However, it failed to reach the upper channel line yesterday prior to returning back to the 55-hour SMA.
From technical point of view, some slight movement north should still be apparent today until the 1.1855 mark, which is limited by the 200-period (4H) SMA and the weekly R2, is reached. Meanwhile, the 55– and 100-hour SMAs are likely to restrict a fall below 1.1750.
This session should be fundamentally calm; however, some turbulence may be caused by the G7 summit which is expected to address the new US tariffs.
