EUR / USD Analysis: Resistance Passes

EUR / USD

The EUR / USD pair broke through the resistance zone near the 1.1880 level. However, the next surge was stopped by the 1.1915 level, and the rate returned downward in search of support. The 55-hour simple moving average, which reached 1.1860 on Thursday, may provide the necessary support for the growth to resume.

In the near future, the SMA may push the rate again through the resistance of the 1.1880 cluster and the 1.1900 level with a weekly simple pivot point R3. The jump could try again to reach the 1.1940 level, where the March 22 highs are.

On the other hand, a dip in the SMA should lead to a decline to the weekly R2 simple pivot at 1.1848 and a support zone near 1.1840.