During Monday’s trading session, the currency exchange rate was trading sideways to stay at 1.1300. On Tuesday morning, the European Single Currency was trading above the monthly S1 at the 1.1307 mark.
In regards to the near-term future, most likely, the rate will be trading sideways to stay between the weekly R1 at 1.1345 and the weekly PP at 1.1289.
However, the resistance of the 200-hour simple moving average could push the rate to pass through most of the technical indicators to trade at the 1.1260 level.
