The US Dollar started Tuesday’s trading sessions with minor losses, as the pair was pressured southwards by the 55-hour SMA. Any attempts to breach this line was disrupted by a significant 49-pip plunge later in the session as a result of which the Greenback fell down to the 112.10 mark. Some positions were re-gained during the following hours, thus leaving the rate slightly below the 55-hour SMA once again.
It is very likely that the 112.50 area, likewise reinforced by the 50.0% Fibo retracement, limits further advances during the following hours. This situation might change later in the session when US fundamentals are to be released. An ultimate daily high could be near the 112.80 mark.
