Refrain from entering the market
The dollar rebounded after being above the minimum of 1.0097 yesterday. This confirms our assumptions about the extension of the consolidation. However, to avoid testing 1.0185 resistance level will be unrealistic. The approval of that earlier this week has been formed at least need a break above 1.0065 resistance. This will cause a rollback to 1.0220 (previous support). The movement above this level will extend the growth to 1.0270 / 80. Otherwise, continue to consolidate in the area 1,0065-1,0185.
As downward movement, breakdown of support 1.0097 will retest the last minimum 1.0065. Needed break this level to talk about the resumption of the fall and its extension to 1,0000. However, the weakening of downward momentum will prevent a sharp drop below that level. Previous support of 0.9910 remains intact.
Since the near-term prospects do not look straightforward, it is recommended not to open new positions.
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