During Monday’s trading session, the US Dollar broke the medium pattern line and the resistance level of the weekly R1 at 110.01. On Tuesday morning, the rate was located below the weekly R1 at the 109.98 mark.
In regards to the near-term future, it is expected, that the continue the surge towards the 111.00 level. Most likely, the rate will end the trading session near the resistance level of the weekly R2 at 110.50.
Meanwhile, the simple moving averages will try to catch up the rate to give an additional push for the rate to surge.
