The US dollar remains supported by Powell ‘s comment that rates will stay higher for a while. The choppy action on the daily chart is a sign of compression as both sides wrestle for the next major move. A tentative break above the previous high of 0.9290 took out some selling pressure. If the pullback is contained above 0.9130, the bulls may see it as a floor and start to push higher. 0.9220 is a fresh resistance and a close above 0.9290 would extend gains to the year’s high at 0.9400. The recent swing low of 0.9050 is a critical support.
