The dollar was on the defensive at a one-week low on Thursday, as robust U.S. data and fresh hopes for U.S. fiscal stimulus had investors confident enough about economic recovery prospects to seek out riskier currencies.U.S. Treasury Secretary Steven Mnuchin told reporters that talks with House Speaker Nancy Pelosi "made a lot of progress" on long-awaited COVID-19 relief legislation.

The market continues to unfold a bull flag upturn and suggests advances over the next several days to reach for 1.1770 - 1.1800. Near term trade may stay in flagging congestion, but a close under 1.1665 (SAR) is needed to signal a reversing turn back to lower levels.

R2          1.1767
R1          1.1744

S1          1.1701
S2          1.1680