The euro is consolidating losses against the US dollar.

The exchange rate fell yesterday to 1.2240 and currently trades at the 1.2270 area.

The upper boundary of the hourly Bollinger bands is located at 1.2282, while the 55 and 100-hour SMAs are positioned at 1.2295 and 1.2304, respectively. The weekly pivot point is located at 1.2321.

Support may be seen at the lower boundary of the hourly Bollinger bands, which is positioned at 1.2236. Slightly below the previous mentioned rationale figure lies the weekly S2 at 1.2228.
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