The EUR/USD has passed the resistance of the weekly R1 simple pivot point at 1.1974. However, by the middle of European trading hours, the rate had not reached the 1.2000 level.
In the near term future, the rate was expected to reach the 1.2000 mark and test its resistance.
If the pair passes the 1.2000 mark, the pair could reach for the weekly R2 simple pivot point at 1.2046. On the other hand, a holding out of the 1.2000 could result in the pair trading sideways until the 55-hour simple moving average catches up from below and provides additional support.
