During Thursday’s trading session, the currency exchange rate broke through most of the technical indicators to end the day at 110.60. On Friday, the rate was located above the 61.80% Fibonacci retracement level at the 110.77 mark.

In regards to the near-term future, most likely, the rate will surge towards the upper boundary of the small pattern line at the 111.00 level.

Moreover, it is expected that the rate will trade sideways to end the day at the 110.80 level.

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