The US dollar extended gains on the NFP momentum. On the daily chart, the 30-day SMA (131.10) has been acting as a tough resistance and its latest breach suggests that bearish sentiment has waned. A tentative break above 132.80 exposes the support-turned-resistance of 133.30 and potentially the daily resistance of 134.70. An overbought RSI may limit the range of the initial surge for now. 131.60 is a fresh support in case a consolidation takes place, and the psychological level of 130.00 a second layer of defence.
