During Tuesday’s trading session, the currency exchange rate had high volatility due to the United Kingdom Parliament’s meeting on Brexit deal. On Wednesday morning, the rate was supported by the monthly PP to trade at the 1.3140 mark.
In regards to the near-term future, most likely, the rate could pass through most of the technical indicators to end the trading session below the weekly pivot point at the 1.3000 level.
However, today’s US Core Durable Goods Orders, Durable Goods Orders, US PPI data release at 12:30 GMT might push the rate to break the weekly R1 at 1.3187 to trade at the 1.3200 level for the rest of the trading session.
