The European Single Currency appreciated 0.15% against the US Dollar since Tuesday’s session. The rate was located at the 1.1765 mark on Wednesday morning.
In regards to the near future, the rate should break the resistance of the monthly R1 at the 1.1765 due to support of the 55-hour and the 100-hour SMAs. It is expected that the rate will trade near the weekly R1 at the 1.1830 on Wednesday.
On the other hand, a lot of significant fundamental news will be released during the day, which might break most of the technical indicators to move downwards or upwards.
