EUR/USD Trades At 1.2100

During Tuesday morning hours, the EUR/USD currency pair jumped to 1.2100.

It is likely that some upside potential could continue to prevail in the market, and the exchange rate could target the resistance level located at the 1.2180 level within the following trading day.

Meanwhile, note that the rate could face the resistance level—the weekly R1 at 1.2140. Thus, the pair could reverse south and decline to the support area formed by the 55-, 100– and 200-hour SMAs, as well the weekly PP in the 1.2020/1.2060 range.