During Thursday’s session, the currency rate passed through the resistances of the simple moving averages to end the trading day at the 1.1400 mark. On Friday morning, the European Single Currency broke the resistance of the weekly pivot point at 1.1413 to trade at the 1.1434 mark. In regards to the near-term future, the currency rate will bounce off the upper boundary of the small pattern line due to the resistances of the 50.00% Fibo and the 100-hour SMA. Most likely, the rate will trade at 1.1400 level during the day. On the other side, the rate might break the medium pattern line at 1.1465 during today’s US Employment data sets release at 12:30 GMT. Watch out for the news!
