On Thursday morning, the currency exchange rate was located at the 1.1345 mark.
In regards to the near-term future, it is expected that the European Single Currency will continue depreciating against the US Dollar to the weekly S2 at the 1.1330 mark. Moreover, most likely, the rate will pass the support level of the weekly S2 to bounce off the small pattern line at the 1.1320 mark.
However, the rate could be retraced by the weekly S2 to stay at the 1.1340 level for the rest of the trading day.
