During Thursday’s trading session, the currency exchange rate was retraced by the 55-hour simple moving average to trade sideways at 1.1320. On Friday morning, the rate was located at the 1.1330 mark.
In regards to the near-term future, most likely, the European Single Currency will bounce off the monthly S1 at 1.1301 passing the small pattern line at the 1.1320 mark.
On the other hand, the European Single Currency could appreciate against the US Dollar to the 1.1340 level during today’s Canadian Employment change and Unemployment rate announce at 13:30 GMT.
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