During Monday’s trading session, the currency pair passed through most of the technical indicators to end the trading day at the 1.1407 mark. During Tuesday morning hours, the European Single Currency was located near the monthly pivot point at the 1.1406 mark.
In regards to the near-term future, most likely, the currency exchange rate will trade sideways to stay in the range between the monthly pivot point at the 1.1413 and the weekly pivot point at the 1.1382.
However, today’s US Congressional Elections may affect the rate to break the resistance of the monthly PP at 1.1413 or the support of the weekly PP at 1.1382.
