During the previous trading session, the currency exchange rate broke the previously drawn descending medium pattern line at 108.64. On Wednesday, the rate was trading at the 108.56 mark.
In regards to the near-term future, it is expected that the rate will break the resistance of the corrected medium pattern line to surge towards the 109.00 level. Moreover, the simple moving averages will support the surge during the day.
On the other hand, the US Dollar could be resisted by the medium pattern line to pass most of the technical indicators to trade at the 108.200 level.
