The pair moved lower in early Thursday’s trading after, continuing to fight with daily cloud top, which proved to be strong barrier. Wednesday’s failure to close above cloud, following spike to 111.75 and repeated rejection at cloud top (111.51) today, suggests the pair may extend sideways mode under cloud top, before establishing in fresh direction, with focus on US jobs data on Friday, which could be a catalyst. Bullish daily studies and safe-haven buying on concern about global trade issues are supportive, but weaker dollar on fresh advance of pound and Euro, partially offsets positive impact.
Res: 111.52, 111.75, 111.87, 112.15
Sup: 111.17, 111.08, 110.96, 110.68
