During Thursday’s trading session, the currency exchange rate depreciated to 1.1440, passing through the support levels of the 55-hour simple moving average and the 50.00% Fibo. On Friday, the rate was located above the 50.00% Fibonacci retracement level at the 1.1464 mark.
It is expected that European Single Currency will surge towards the weekly R2 at 1.1500. In addition, the 50.00% Fibo should support the rate during the day.
On the other hand, the European Single Currency could depreciate against the US Dollar during today’s US Employment data sets release at 13:30 GMT to trade at the 1.1400 level.
