During Monday’s trading session, the currency exchange rate passed through the bottom boundary of the ascending medium pattern line to end the trading session near the weekly PP at the 113.58 mark. On Tuesday morning, the US Dollar broke the resistances of the 55-hour and the 100-hour SMAs to surge to the 114.11 mark.
In regards to the near-term future, most likely, the US Dollar might meet the weekly R1 at the 114.30 during the day. mark. Besides, today’s US FOMC Member Brainard Speech at 15:00 GMT could support the rates movement upwards.
On the other side, the currency exchange pair might move sideways to stay at the 114.15 level during the trading session on Tuesday.
