During Friday’s trading session, the European Single Currency depreciated against the US Dollar to pass through most of the technical indicators to end the day at 1.1215. On Monday, the rate was supported by SMAs to be located at the 1.1238 mark.
As apparent on the chart, the currency exchange rate broke the resistance levels of the simple moving averages to surge towards the weekly R1 at the 1.1253 mark. Most likely, the rate will end the session at the 1.1250 level.
Moreover, none of the technical indicators could prevent the EUR/USD from the surge!
