The US dollar’s rally ran out of steam for lack of liquidity during the long weekend in the US and the UK.
Traders are cautious in bidding up amid thin trading volume especially after last week’s surge above the psychological level of 110.00. The RSI is retreating into the neutrality area. The bearish MA cross may attract some selling interest in the near term.
The zone between 109.00 and 109.30, a former resistance, would be a key support to watch for. The peak at 110.20 is the resistance in case of rebound.
