The US dollar consolidates as traders reposition themselves ahead of nonfarm payrolls.
The pair has been changing hands in a narrow range between 0.9100 and 0.9200. Multiple attempts at both ends suggest a lack of commitment.
A catalyst-driven breakout would dictate the direction for the days to come. A rally would test the recent peak at 0.9240, a prerequisite for a reversal above 0.9300.
On the downside, a sell-off may dampen optimism and lead to a retest of the demand zone at 0.9050.
