The US dollar struggled to bounce back after the US labor market showed inconsistencies. Despite a week-long consolidation above 0.9075, the bearish momentum was a reminder that sellers are still in charge of the price action.
The RSI’s double-dip into the oversold territory may prompt short-term traders to take some chips off the table triggering a limited rebound.
0.9100 is a tough resistance where trend-followers could be on standby. A failure to break out would lead to renewed pressure towards 0.8940.
