The pair remains bid on Tuesday and probes above Monday’s high at 113.65, as the latest comments from President Trump about implementing plan for tariff hike on imports from China boosted demand for safe-haven dollar.
Long bullish candle, left on Monday’s 0.6% advance, underpins, with bullish signal generated on Monday’s close above 113.48 pivot (Fibo 61.8% of 114.20/112.30 bear-leg) and daily MA’s in bullish configuration.
On the other side, neutral momentum studies and overbought slow stochastic on daily chart warn that bulls may run out of steam.
Dip-buying (ideally above 113.24 (20SMA / top of thick 4-hr cloud) remains favored, as bulls eye target at 114.20 (12 Nov high), but traders also await Fed’s minutes as well as the outcome of Trump/Xi meeting for further signals.
Res: 113.75, 114.00, 114.20, 114.54
Sup: 113.41, 113.24, 113.14, 113.01
