The European Single Currency jumped against the US Dollar due to fundamentals on Wednesday. The rate ignored most technical levels, passing through the weekly R1 at the 1.1632 level, which could not stop the rate from the surge.
In regards to the near future, most likely, the rate should go downwards due to psychological level at the 1.1640 towards the SMAs cluster at the 1.1600 mark.
On the other hand, the currency exchange rate might take the support of the weekly R1 at the 1.1632 mark to surge even higher towards the weekly R2 at the 1.1710 mark.
