The US dollar rallies on solid growth and jobless claims data. The pair has found bids in the daily demand zone between 108.30 and 108.60. Repeated tests of the support without breach have suggested strong interest in keeping the price afloat.
The latest impetus above 109.70, the upper band of a three-week-long consolidation range, reverses the gear in favor of the dollar.
110.50 then the psychological level of 111.00 would be the next target.
In the meantime, an overbought RSI may initiate a brief pullback towards 109.00.
