During the previous trading session, the rate was retraced by the upper boundary of the descending dominant pattern line at 109.90. On Monday morning, the US Dollar was trading at the 50.00% Fibo at the109.58 mark.
In regards to the near-term future, most likely, the rate will be trading at the 109.40 level during the day. In addition, It is expected that the currency exchange rate will reach the dominant pattern line at 109.80.
Besides, the 55-hour simple moving average will try to catch the rate to give additional support for the rest of the trading session.
