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The euro currency pared losses and recovered from Thursday’s declines.

By Friday’s close, the common currency closed back near the 1.1900 handle. Price action is testing this level for the second time.

A daily close or a weekly close above 1.1900 will open the way for EURUSD to rise to 1.2000 next.

Alternately, if the resistance level near 1.1900 proves hard to breach, then we could expect a decline back lower.

While this will keep EURUSD settle in a sideways range, it will open the way for a decline toward 1.1715.

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