During Tuesday morning hours, the EUR/USD currency pair raised to the psychological level at 1.2340.
It is likely that some upside potential could prevail in the market in the nearest future. Note that the exchange rate could face the resistance level—the weekly R2, located at 1.2365.
If the predetermined resistance holds, the currency pair could bounce off to the support formed by the 55– and 100-hour SMAs, as well the weekly R1 near 1.2280. Otherwise, the pair could target the psychological level at 1.2400.
