Second half of the previous trading session the currency exchange rate spent in an expected advance towards the closest resistance level formed by the weekly R2 at 1.1878. An especially high impulse was provided shortly after release of information on the US Non-Manufacturing PMI that did not justify experts’ expectations. For the moment, it is not clear yet, whether the pair will continue the surge or fall out from the wedge. On the one hand, a four-hourly chart shows that the rate has been soaring precisely along the pattern’s southern boundary. In addition, a number of technical indicators reveal that the pair has not become overbought yet. On the other hand, narrowing fluctuations of the rate more and more remind formation on an inner ascending triangle with the upper trend-line located near the 1.1883 level.
