Yesterday, the currency exchange rate was resisted by the 100-hour simple moving average to end the day at 111.20. On Tuesday morning, the rate was located at the 111.31 mark.
Most likely, the rate will trade sideways to stay below the weekly pivot point at the 111.46 mark. Besides, the 200-hour simple moving average should support the rate during the day.
On the other hand, the rate could bounce off the weekly pivot point at the 111.46 mark to decline to the 111.00 level.
