The US dollar eased after the FOMC minutes failed to pinpoint the first rate hike next year. The drop below 0.9280 was a sign of profit-taking after the RSI showed that the rally had overextended.
The pair has then found support along the 20-day moving average (0.9220). This is a major level for the bulls to keep the uptrend intact after a short-lived bounce revealed weakness.
A bearish breakout would send the pair to 0.9150. A rebound could propel the pair to 0.9400 if it succeeds in absorbing offers around 0.9330.
