It can be observed on the hourly chart of the EUR/USD currency exchange rate that the pair has found support. It was expected that the rate will reach the 1.13 mark during Monday’s trading session. However, that event has been delayed due to the pair changing its direction just above the 1.1280 mark. The fall was concluded when the currency exchange rate encountered the support of the 55-hour SMA and a short term ascending channel pattern’s lower trend line near the 1.1240 level. As a result a surge began, which lasted into early Tuesday trading. The target of the 1.13 mark remains in force, as it is expected that the Euro might continue to gain against the Greenback in the next two trading session due to them being quiet in regard to fundamental data releases.
