The zone from the 1.2000 mark to the 1.1985 level managed to provide the EUR/USD currency exchange rate with enough support for the rate to surge.
By the middle of Thursday’s European trading hours, the rate had reached above the resistance of the 55 and 100-hour simple moving averages. In the near term future, the pair could reach the resistance of the weekly simple pivot point and the 200-hour simple moving average near 1.2060.
If the rate passes the resistance levels at 1.2060, the rate would reach for the 1.2100 mark and afterwards the weekly R1 simple pivot point at 1.2109.
On the other hand, a failure to break resistance at 1.2060 could result in a decline to the support zone of 1.2000/1.1985.
