During Monday’s trading session, the currency exchange rate was supported by the 55-hour SMA to end the trading session at the 113.55 mark. During Tuesday’s morning hours, the US Dollar depreciated by 0.35% to trade at the 113.12 mark.
In regards to the near-term future, most likely, the US Dollar will trade sideways to stay at the freshly drawn trend line. It is expected that the currency exchange pair will be trading below the monthly PP at 113.34 to stay at the 113.00 level during the day.
On the other side, the US Dollar could pass through the support of the freshly drawn pattern line to trade towards the weekly S1 at the 112.91 mark.
