The US dollar bounces higher fuelled by expectations of a supersized rate hike after record high inflation. A short-lived pullback has met solid buying interest over 0.9750. A pop back above the recent high at 0.9850 confirms that the bulls are still in control of the direction. A bullish MA cross suggests an acceleration to the upside and could attract more bids in the process. Above 0.9880, the origin of the June liquidation at 0.9950 could be next, which would complete the W-pattern on the daily chart. 0.9790 is the first support.
