Fortunately for the buck, both data releases were even better that analysts anticipated. Even though they did not arouse especially high interest, but it was still enough to push the currency pair out of the channel. The surge gradually continued until the pair faced the first resistance level set up by the weekly R2 at 110.49. Contrary to the previous three days, today the Dollar will not have any additional stimulus from the fundamental side. Accordingly, the pair is likely to retreat back to the weekly R1 at 109.92. Yet, the sharp fall is not expected, as the southern side is reliably secured by the 55-, 100- and 200-hour SMAs. However an opposite scenario is likely to happen as well, an aggregate of technical indicators sends a strong buy signal for the 5H and 1D timeframes.
