During Friday’s trading session, the currency exchange pair was trading sideways to end the trading day at the 113.16 mark. On Monday morning, the US Dollar was trading at the 113.27 mark.
In regards to the near-term future, most likely, the US Dollar will trade towards the 113.40 level during the day. None of the technical indicators could prevent the rate from the surge. Besides, the 55-hour and the 100-hour SMAs will try to catch up the rate during the trading session to give additional support for the surge.
On the other side, the rate could trade towards the bottom boundary of the ascending medium channel at 113.10 if the US Dollar will depreciate during the day.
