EUR/USD spent the Monday morning calmly in between the bounds of the 55– and 200-hour SMAs. Following a test of the 100-hour moving average mid-day, the pair fell down to the senior channel circa 1.23 where it remained located this morning.
The pair is currently stranded between two strong barriers, namely the senior pattern and the combined resistance of the 55– and 100-hour SMAs and the monthly PP circa 1.2320.
Given that no significant fundamentals are scheduled for today, the pair should lack enough strength to dash through this cluster. However, the US Dollar might still be weakened by US-China trade tensions that could actually put addition upward pressure on the Euro.
Upside potential today is until 1.2365, while a fall should not exceed the 1.2250 mark.
