The US dollar edged lower after the inflation reading in November met expectations. The pair has found support at 112.55 while the RSI dipped into the oversold area.
Though bulls are struggling to push past 113.95, a bullish breakout would prompt sellers to jump ship, rising volatility in the process.
The previous peak at 115.50 would be the next target. The former supply zone around 113.25 has turned into a demand zone. Further weakness could send the dollar to revisit the said support.
