During Tuesday’s trading session, the currency pair passed through most of the technical indicators to end the trading session at the 1.1366 mark. On Wednesday, the currency exchange rate was resisted by the 200-hour SMA to trade at 1.1376.
In regards to the near-term future, the currency exchange rate could be resisted by the technical indicators to push the rate to trade sideways at the 1.1380 level during the trading session on Wednesday.
However, today’s US Durable Goods Orders data release at 13:30 GMT could support the rate to break the resistance of the monthly pivot point at the 1.1413 mark to trade at the 1.1400 level.
