The US dollar edged higher supported by better-than-expected initial jobless claims. The pair continues its journey upward from the demand zone near 0.9200.
The rally is gaining momentum after a break above 0.9280. 0.9370 from a previously botched rebound is a major hurdle. In fact, its breach could flush out remaining selling interests.
Then last month’s peak at 0.9450 would be within reach. On the downside, 0.9260 is the immediate support if the market shows hesitation. 0.9200 is a critical level to keep the rebound intact.