In the second half of Monday the American Dollar continued to move along the 20-hour SMA and the former triangle’s upper resistance line. It did not make a fully-fledged rebound, nor did it not fall below the weekly S1 at 110.11. Generally, the pair is expected to continue to slide today in the southern direction. Firstly, because it experiences pressure from the above 20-hour SMA as well as from the approaching 55-hour SMA near 110.60. Secondly, because of reaction on announcement of information on the US ISM Manufacturing PMI that will be released at 14:00 GMT, provided that actual figures will match with experts’ forecasts. However, the possible fall should not go beyond the weekly S2 that is located at the 109.50 level.
