By the middle of the day, the rate had tested the resistance of the 1.2700 level, which managed to hold.
The EUR/USD has broken the ascending channel pattern of the hourly chart and declined below the 55-hour SMA.
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On Monday, the commodity price was testing the resistance of the 55, 100 and 200-hour simple moving averages and a monthly pivot point at 1,498.30.
On Monday, the GBP/USD rate was heading to the support of the weekly pivot point at 1.2520, which soon could be supported by the 55-hour simple moving average.
On Monday morning, the EUR/USD was surging after bouncing off the support levels from 1.1015 to 1.1020. The rate was expected to test the resistance of the monthly pivot point at the 1.1045 level.
On Friday, the rate stood at the support of the 55-hour simple moving average at 108.05.
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