During Monday’s trading session, the currency exchange rate traded sideways between the 55-hour and the 200-hour simple moving averages at 1.3150 level. On Tuesday morning, the rate was supported by the 55-hour simple moving average to trade at the 1.3209 mark.
The rate could continue to trade sideways to stay near the weekly pivot point at 1.3176 to end the trading session at the 1.3200 level.
However, the support levels of the 55-hour and the 100-hour SMAs together with the support level of the weekly pivot point could retrace the rate to push it to break the resistance level of the 200-hour SMA to end the day at 1.3250.
