The US dollar recoups some losses as traders await nonfarm payrolls. On the daily chart, the 20 and 30-day SMAs have acted as strong resistance, and the consolidation area around 0.9100 from late 2021 so far has failed to offer meaningful support. The short-term price action led to a bounce as the RSI’s double dip in the oversold area prompted some sellers to take profit, driving the price up momentarily. 0.9200 is the first hurdle ahead and a fall back below 0.9050 would expose the psychological level of 0.9000.
