The dollar surged after Fed on Wednesday, gaining 0.68% for the day and closed above 112.67 (Fibo 61.8% of 115.49/108.11 descend) which was strong bullish signal. Bulls extended on Thursday and cracked daily cloud top (112.85), coming ticks ahead of next strong barriers at 112.92/113.00 (falling trendline connecting 118.59/115.49 tops/psychological barrier). Strong bullish setup of daily technical studies is supportive and so far ignores strongly overbought conditions of slow stochastic. Close daily cloud top will generate bullish signal for further upside action through falling 100SMA (113.23) for extension towards 113.75 (Fibo 76.4%). However, corrective easing could be anticipated in the near-term with solid supports at 112.14 (daily cloud base) and 111.80 (broken weekly Tenkan-sen) expected to ideally contain correction.
Res: 113.00, 113.23, 113.53, 113.75
Sup: 112.64, 112.14, 111.80, 111.36
