EUR/USD recovers after drop

Note: This section contains information in English only.
Source: Dukascopy Bank SA
On Friday, after the large drop caused by the German PMI data on Wednesday, the EUR/USD was recovering. 

The pair's recovery was expected to continue, as the rate had no technical resistance levels close by. Namely, the simple moving averages were still located above the 1.1270 level during the morning hours.  

On the other hand, the rate might consolidate after the decline by trading sideways not surging up.

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