The US dollar claws back losses as June’s retail sales beat the consensus. The pair has found support on the 30-day moving average (0.9120).
The bullish breakout above 0.9195 indicates that buyers may have turned the tide in their favor. The bullish MA cross also points to an acceleration to the upside.
0.9260 is a major resistance ahead. Its breach would resume the rally and open the path towards April’s peak at 0.9450. 0.9170 is the immediate support in case of a pullback.
