The pair maintains positive tone and pushes again above pivotal Fibo barrier at 113.35 (61.8% of 114.03/112.23) after repeated failure to eventually close above it and signal continuation of recovery from 112.23 double-bottom.
The action in past two days formed double Doji candle, signaling that bulls took a breather, but remaining on track for further advance.
Strong momentum on daily chart, MA’s in bullish setup and rising daily cloud continue to underpin.
Bulls eye target at 113.61 (Fibo 76.4% of 114.03/112.23), break of which would open way for 114+ gains.
Conversely, bearish signal could be expected on break and close below 113 handle.
Res: 113.61, 113.82, 114.03, 114.20
Sup: 113.20, 113.08, 112.92, 112.55
