The second half of previous trading session the rate spent in horizontal movement. A release of better than expected US consumer sentiment data pushed it to the bottom, while another launch of ICBM by North Korea gave a reason to continue the surge. Technically, the southern side was protected by the 55- and 100-hour SMAs that are lying along the lower support line of the rising wedge formation, while the northern side contained the weekly and monthly R1. Although the pair has formed a minor symmetrical triangle, it is still expected to make a breakout to top. This assumption is based on market sentiment, which is 52% bullish as well as dominance of the larger pattern. However, there is a need to notice that release of the US Prelim GDP can lead to short-term strengthening of the buck.
