On Wednesday, the EUR/USD currency pair re-tested the 2020 high at 1.1903. During today’s morning, the pair declined to 1.1840.
It is likely that the exchange rate could gain support from the 55-hour moving average near 1.1825. Thus, some upside potential could prevail in the market in the short term.
Meanwhile, if the given maximum, as well the weekly R1 at 1.1915, it is likely that the Euro could consolidate against the US Dollar within the following trading session.
