The US dollar goes sideways, following a slight improvement in last week’s initial jobless claims.
The rally has resumed after a breakout above 0.9230, the top range of the previous consolidation. Price action is rising along the moving averages as a sign of acceleration in the bullish momentum. 0.9310 is the next target.
The RSI has made its way back to the neutral area. Trend followers are likely to offer support as the price pulls back. 0.9200, the base of the rally is the first line of defense.
