After breaking through a combined resistance set up by the weekly S2 at 1.1774 and the slipping 55-hour SMA, the currency pair lost an upside momentum provided the 100% Fibonacci retracement level at 1.1715 and started to move horizontally. The reason behind inability to climb further to the top was another technical barrier represented by the 100-hour SMA near 1.8000. As a result, today the pair remains tightly squeezed between the above indicators. Throughout the day the bears might drag the pair slightly to the bottom. But, generally, the Euro is expected to continue to appreciate against the Dollar, step-by-step crossing different resistance levels at 1.1810, 1.1861, 1.1881 and 1.1933.
