The pair hold firm tone in early Monday’s trading and probed through pivotal 113.25 barrier (Fibo 50% of 114.20/112.30 bear-leg / 20SMA).
Fresh bullish acceleration emerged after Friday’s action failed to sustain break into thick daily cloud and ended in long-tailed Doji, closing well above cloud top.
This could signal continuation of bull-leg from 112.30 (20 Nov low), as the dollar remains supported by safe-haven demand on rising fears of global growth slowdown and daily tech improve, but still lacking momentum and require close above 113.25 to generate bullish signal and sideline risk of retesting cloud top (112.79).
Res: 113.35, 113.48, 113.63, 114.00
Sup: 113.03, 112.87, 112.79, 112.66
