During Tuesday’s trading session, the currency exchange rate broke the resistance of the weekly R2 to end the trading session at the 113.75 mark. On Wednesday morning, the US Dollar was kept surging upwards to trade at the 113.86 mark.
In regards to the near-term future, the US Dollar will keep surging upwards to trade at the 114.00 level on Wednesday. The 55-hour simple moving average will try to catch up the rate during the day.
On the other side, the US Dollar could depreciate against the Japanese Yen during today’s US Prelim GDP and Crude Oil Inventories data releases to push the rate to pass through the support of the weekly R2 at 113.74 to trade at the 113.60 level.
