Because of release of better than expected information on employment change in the United States, the buck took the lead and in the first hours of this trading session successfully bypassed combined resistance put by the weekly PP and the 200-hour SMA. In larger perspective, the surge should be attributed to junior ascending channel, which guided the pair towards the upper trend-line of a medium scale symmetrical triangle through this week. From trade pattern’s perspective, the pair should make a rebound somewhere near the 113.10 level and resume the downward movement. But since the rate has crossed practically all technical barriers on its way, it has a good chance to break the above pattern and continue to climb towards the weekly R1 at 113.26.
