As there were no breaking news yesterday, recovery of the buck was expectedly neutralized by combined support level set up by the 55-, 100- and 200-hour SMAs together with the weekly PP at 1,273.35. In the meantime, lowering interest for safe haven assets as well as existence of the monthly PP at 1,279.41 did not allow the pair to make a fully-fledged rebound either. For this reason, the rate is expected to continue moving in this limbo until traders receive a proper signal that will allow making a decisive breakout. Most probably such signal will come from China, where Donald Trump is expected to announce conclusion of different deals that would allow narrowing the gap in the US trade balance. In that case, the buck has a chance to reach the bottom edge of the channel in the next one-two days.
