On Friday, the EUR/USD currency pair failed to exceed the 1.0840 level. During today’s morning, the pair was trading in the 1.0810 area.
Given that the exchange rate is pressured by the 55-, 100– and 200-hour SMAs in the 1.0800/1.0825 area, it is likely that some downside potential could prevail in the market.
Note that the rate could gain support from the weekly and monthly S1s in the 1.0770 area. If the given support holds, it is likely that a reversal north could follow.
