Due to beginning of Thanksgiving holidays in the United States, which led to reduced liquidity, the currency rate indeed spent previous trading session between the weekly S1 at 111.40 and support at the 111.10 level. But as it made a rebound from the bottom trend-line of a two-week long descending channel, in first hours of this trading session the surge resumed. At the moment, the pair is the testing the 55-hour SMA, which might lead to short-term retreat. Nevertheless, this barrier should not prevent the pair from reaching the opposite side of the pattern. Thus the general question is whether the buck will manage to soar to the pre-fall 112.10 level or it will be forced to make another rebound amid additional pressure exercised by the falling 100-hour SMA as well as the monthly S1 at 112.05.
