The US dollar tumbled after Fed Chairman Jerome Powell said it is nowhere near a rate hike.
The RSI divergence was a giveaway that the sellers may have taken their feet off the pedals. The break above 1.1820 suggests that buyers were trying to get back into the game.
As the pair grinds its way up, a close above 1.1850 may foreshadow a U-turn in the coming days, prompting sellers to cover.
1.1880 could be the last hurdle and its clearance may trigger a runaway rally. 1.1770 is a fresh support in case of a pullback.
