In line with expectations, the currency exchange rate did not make any significant moves yesterday.
To put it differently, despite the pressure from the weekly and monthly PP as well as the 100-hour SMA, a combination of the 55-hour SMA and the 50% Fibonacci retracement level managed to constrain the downfall.
As for today, the vote in Congress should lead to appreciation of the buck. In support of this scenario, 54% of pending orders in 100-pip range are set to buy.
However, a concentration of the above technical indicators plus the 200-hour SMA most probably will either neutralize the surge or even cause a rebound and retreat back to support zone near the 112.10 level.
