After booking a new high level against the Japanese Yen, the US Dollar retreated during the early hours of Monday’s trading session. However, by the middle of the day the currency exchange rate had stopped the decline. Namely, the decline was stopped by the support of the 55-hour simple moving average near the 110.60 mark.
Moreover, the currency exchange rate was expected to surge even more in the upcoming trading sessions. The basis for this assumption is the fact that above the currency exchange rate there were no resistance levels up to the 111.30 mark.
