EUR/USD could reach 1.1190

Source: Dukascopy Bank SA
PositionsTodayYesterdayChange
Longs26%27%-5.1%
Shorts74%73%1.8%
Indicator4H1D1W
MACD(12;26;9)BuyBuySell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralSellSell
Alligator(13;8;5)BuyBuySell
SAR(0.02;0.2)SellBuyBuy
Aggregate

On Monday, the EUR/USD currency pair consolidated near the psychological level at 1.1160. During today's morning, the pair breached the 55-hour SMA at 1.1150.

On the one hand, the exchange rate could trade downwards within the following trading session. In this case the rate could gain support of the 100-hour SMA, as well the weekly PP at 1.1112. It is unlikely that the rate could drop lower than the 200-hour SMA at 1.1073.

On the other hand, some upside potential could prevail in the market in the short term. The currency pair could exceed the given psychological level and target the resistance level formed by the monthly R2 at 1.1190.

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