During Thursday's session exceeded the supply side support at 1.1090, however, missed the chance of turning toward the minimum at 1.1071 proved short-lived. Currently we are in the vicinity of the level of 1.11, and it seems that the growth scenario that I presented in the last comment is not completely negated. Certainly the situation on the demand side would look preferably, if there were to overcome the resistance level at 1.1160. Nevertheless, the demand side is not at a disadvantage.
However, if you happen to break the support at 1.1090 is the supply should be directed toward Thursday's minimum and then towards lower price levels, extending in between 1,10-1,1045.
The signal for a stronger movement may be Friday's US data on CPI.
However, if you happen to break the support at 1.1090 is the supply should be directed toward Thursday's minimum and then towards lower price levels, extending in between 1,10-1,1045.
The signal for a stronger movement may be Friday's US data on CPI.