US dollar starting to move upwards since the indication of interest rate hike. But still its fundamentals are not so promising to conclude on a hike. Also today's China Manufacturing PMI also plays an indirect vital role in this decision. With respect to all these, Technical analysis also indicating that this pair is at the verge of defining the further move irrespective of which way. Please find the daily chart,

According to my technical analysis, a move above 112.15 will trigger upward trend and a downward move of 110.20 will resume the current downtrend.
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