During the first half of Wednesday’s trading session, the Eurozone single currency surged by 53 pips or 0.45% against the US Dollar. But, the EUR/USD pair surrendered the earlier gains by the end of Wednesday’s session.
Given that the exchange rate has breached the lower line of an ascending channel pattern, bearish traders could continue to drive the price lower during the following trading session.
However, the currency exchange rate might reverse from the current price level at 1.1833 and target yesterday’s high at 1.1900 within this session.
