During the previous trading session, the currency exchange rate was trading sideways below the 61,80% Fibo at 110.60. On Friday morning, the rate was located at the 110.87 mark.
In regards to the near-term future, most likely, the US Dollar will bounce off the upper boundary of the freshly drawn medium pattern line at 110.90 to trade sideways during the trading session.
On the other hand, the rate could break the resistance of the freshly drawn medium pattern line at 110.90 to trade at the 111.00 level.
Written by Admin
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