During Thursday’s trading session, the currency exchange pair was supported by the 55-hour SMA to end the trading session at the 1.1401 mark. During Friday morning hours, the currency exchange rate depreciated by 52 pips or 0.46% to trade at the 1.1376 mark.
On Friday, the currency exchange rate will trade sideways between the 100-hour and the 200-hour SMAs to stay at the 1.1380 level. The 200-hour simple moving average will try to support the rate from fall for the rest of the trading day.
However, the rate could pass through the support of the 200-hour simple moving average to trade near the weekly pivot point at the 1.1352 mark.
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