The European Single Currency depreciated 0.09% against the US Dollar since Tuesday’s session. During the last trading session, the currency pair was supported by the 55-hour and the 100-hour SMAs to stop the trade at 1.1577 mark. During Wednesday’s morning hours, the rate broke the support of the 55-hour and the 100-hour SMAs to trade at 1.1567 mark.
On Wednesday, most likely, the European Single Currency will trade sideways between the SMAs at 1.15600 level due to the rate’s resistances and supports.
However, the rate might pass through the weekly PP at 1.1535 or break the 55-hour and 100-hour resistances due to today’s US fundamentals
