EUR / USD
On Wednesday, the EUR / USD currency pair tested the upper limit of the downward channel in the medium term. During the morning of today, the pair has crossed the given level.
Note that the exchange rate is supported by the SMA for 55 hours near 1.0870. Thus, some upside potential could prevail in the market. However, note that the rate should exceed the resistance cluster formed by the Fibo 23.60%, the weekly PP and the 200-hour SMA in 1.0886 / 1.0910.
If the given resistance continues, it is likely that a reversal to the south could occur in the near future. Note that the pair could gain support from the 100 hour SMA near 1.10840. If the support continues, the rate could consolidate in the short term.