I get the impression from the minutes that the majority of members want hikes for June. Several for it, others (fewer) for later in the year and only a couple were very dovish. I suspect the first group may even outnumber the last two. Dudley discounted NFP yesterday prior to the minutes which may have thrown off the techs which were bullish then; and he didn't discount June hikes either while implying pending data may obviously cause a delay.
Either way, those betting on June hikes hold the upper-hand at the moment on the charts and they're testing those who are betting on September or later; and now we're testing (tested) support originally from Euro strength (potential deflation bottom.)
I think a solid intraday hold of 1.0776 will confirm the bulls mean business at those levels and setup another 1.0828 test at least pending further data.
Either way, those betting on June hikes hold the upper-hand at the moment on the charts and they're testing those who are betting on September or later; and now we're testing (tested) support originally from Euro strength (potential deflation bottom.)
I think a solid intraday hold of 1.0776 will confirm the bulls mean business at those levels and setup another 1.0828 test at least pending further data.