Unfortunately for the Greenback, none of the US macroeconomic data released yesterday did not justify analysts’ expectations. As a result, the pair, firstly, slipped below the 55- and 100-hour SMAs and, secondly, below the weekly S1 at 110.11. However, after the second data release the currency rate became substantially oversold and, for this reason, no further drop has followed. Most probably, during Friday’s trading session the buck is going to try to restore lost positions. If the pair succeeds to gain a foothold at the above weekly S1, it might obtain a necessary impulse to try to reach the 200-hour SMA near the 110.87 mark. Nevertheless, this attempt might be easily undermined by another release of a set of the US data at 12:00 GMT.
