On Friday morning European session, the exchange rate is recovering and establishing a foothold within the 1.2830/40 area, where the weekly R1 (1.2833) is located at.
Resistance is now offered by the 100-hour SMA (1.2846), followed by the upper boundary of the hourly Bollinger bands (1.2858) and then by the 55-hour SMA (1.2870).
Support is now seen at the lower boundary of the hourly Bollinge…