The decline of the EUR/USD eventually found support in the weekly S1 simple pivot point at 1.1838. By the middle of Tuesday’s GMT trading hours, the currency pair had recovered and reached above the 1.1900 mark.
In the case of the pair continuing the surge, the pair could test the resistance of the 1.1950 level, which should be strengthened by the 100-hour simple moving average. If those levels fail to provide resistance, next target would be the weekly simple pivot point at 1.1976.
On the other hand, the pair could pass the support of the 1.1900 level and the 55-hour simple moving average, which was located at 1.1895. If the rate declines, it should once again look for support in the weekly S1 simple pivot point at 1.1838.
