Yesterday, the EUR/USD currency pair traded sideways between the psychological levels, located at 1.1250 and 1.1280 respectively. During Friday’s morning, the pair continued to trade within the given cluster.
Note, that the exchange rate is supported by the 55– and 200-hour moving averages, currently located circa 1.1255. Thus, it is likely, that some upside potential could prevail in the market. However, note, that the rate has to surpass the weekly PP at 1.1269.
If the given support does not hold, it is expected, that the pair could decline to the support level formed by the 100-hour moving average, currently located at the 1.1235 mark.
