Although on Thursday morning the common European currency traded against the US Dollar near the previous two trading session levels, which is above the 1.1250 mark, there is an additional detail to the rate. The currency exchange rate plummeted in the hour, which began at 10:00 GMT. The pair fell as low as the 1.12 level, and that event most likely triggered a lot of orders, as during the fall, which was clearly fundamental, the rate retreated below all this week’s relevant levels of significance. However, by 14:00 GMT the Euro was back above 1.1250 mark against the US Dollar. It is most likely that the fundamentals will continue to dictate the pair’s movements during the day, as the ECB is publishing their updated rate and hosting a press conference.
