During Tuesday’s trading session, the US Dollar was supported by the 200-hour SMA to help the rate to break the resistance level of the monthly pivot point at the 113.34 mark. During Wednesday’s morning hours, the US Dollar was located between the monthly PP and the weekly R1 to trade at the 113.47 mark.
In regards to the near-term future, the US Dollar will keep surging upwards to break the resistance of the weekly R1 at 113.62 to push the rate to trade at 113.80 level during the day.
On the other side, the US Dollar could depreciate against the Japanese Yen during today’s US CPI data release at 13:30 GMT to trade at the 113.20 level.
