During the previous trading session, the currency exchange rate was supported by the simple moving averages to break the resistance level of the weekly R1 at 1.1345. On Wednesday morning, the rate was located above the weekly R1 at the 1.1345 mark.
It is expected that the European Single Currency will appreciate against the US Dollar to the 1.1400 level. Besides, the weekly R1 at 1.1345 should support the surge during the day.
On the other hand, during today’s US FOMC Meeting Minutes release at 19:00 GMT, the European Single currency could depreciate against the US Dollar to stay at 1.1360.
