On Monday, the EUR/USD currency pair failed to exceed the 1.2160 level.
It is likely that the exchange rate could be pushed down by the 55– and 100-hour moving averages near 1.2125. In this case the rate could gain support from the weekly PP at 1.2075.
If the given support level holds, a reversal south could follow and the currency pair could re-test the predetermined resistance. Otherwise, the pair could decline to the 200-hour SMA near 1.2040.
