The US Dollar managed to continue its strong upside movement during the first part of Friday’s trading session. Better-than-expected US employment data released at 1330GMT strengthened the Greenback by 40 pips within the first five minutes after the release, thus allowing it to test the 110.50 mark.
The pair’s subsequent movement was a decline from this eight-day high towards the 55-hour SMA and the weekly PP at 109.70.
Technical indicators show mixed signals, thus the US Dollar is likely to remain stable in this session. In case the monthly PP does not hold, the upside target should be the weekly R1 at 111.00.
On the other hand, the daily low is expected to be the combined support of the 100– and 200-hour SMAs circa 109.30.
