During the previous trading session, the EUR/USD currency pair revealed a rising wedge pattern. During Tuesday morning, the pair was trading near its lower line at 1.0920.
From a theoretical perspective, it is likely that some upside potential could prevail in the market, and the exchange rate could reach the 1.0980 level.
On the other hand, the rate could be pressured by the 55-hour SMA down to the support formed by the weekly PP, the Fibo 23.60% and the 200-hour SMA in the 1.0880 area.
If the given support holds, it is likely that the Euro could consolidate against the US Dollar. Otherwise, some downside potential could continue to prevail in the market.
