During Monday’s trading session, the weekly PP was resisting the currency exchange rate to keep the rate at 1.1480. However, during Tuesday’s midnight hours, the rate was resisted by the 55-hour simple moving average to the 1.1431 mark.
In regards to the near-term future, most likely, the currency exchange rate will depreciate towards the monthly S1 at the 1.1330 mark.
On the other hand, the European Single Currency could appreciate against the US Dollar to 1.1450 during today’s US PPI and Core PPI data releases at 13:30 GMT.
