The US dollar recovers thanks to firm US Treasury yields at the start of the week.
The pair is still stuck in a horizontal consolidation between 0.9100 and 0.9190. Sentiment has leaned to the upside after a break above the resistance at 0.9230.
A near oversold RSI around the lower band may trigger some buying interests. A close above 0.9190 may lead to a test of July’s high at 0.9270. A drop below the lower band would send the price to the daily support at 0.9020, putting the rebound at risk in the process.
