On Monday morning, the EUR/USD made an attempt to pass the resistance zone of 1.1665/1.1670. The rate failed at its attempt and declined to the combined technical support of the 55 and 100-hour simple moving averages at 1.1640.
In the case of a surge, the pair would once again test the resistance of the 1.1665/1.1670 zone. A passing of the resistance zone might reach for the weekly R1 simple pivot point at 1.1687.
On the other hand, a decline below the 55 and 100-hour SMAs at 1.1640, could look for support in the weekly simple pivot point at 1.1630. Below the pivot point, the last week’s low level zone and the 200-hour SMA might act as support.
