During Wednesday’s trading session, the 100-hour simple moving average resisted the rate to 111.50. On Thursday morning, the currency exchange rate appreciated towards the 55-hour simple moving average to be located at the 111.70 marks.
In regards to the near-term future, most likely, the rate will move sideways due to a lack of any fundamental news during the day.
It is expected that the currency exchange rate will end today’s trading session at the 111.60 level.
