The US dollar edged higher as Treasury yields touched a 3-year high. A surge above the supply zone around 0.9370 is a strong sign that the bulls have regained control of the direction.
The daily resistance at 0.9450 is the sellers’ last stronghold, a breakout could end the year-long consolidation and extend the reversal to 0.9600.
The RSI’s overbought condition may cause a limited pullback as intraday traders unwind their positions. 0.9350 from the former supply zone is now a fresh support to gauge buyers’ commitment.
