The pair cracked psychological 110.00 support on extension of broader weakness on Tuesday, but without clear break lower so far.
Hesitation at strong 110.00 support zone may trigger a bounce as daily studies are oversold. Supporting the notion is daily cloud twist later this week which may attract for extended upticks.
The price is still below initial barrier at 110.51 (Fibo 23.6% of 112.19/110.00 downleg) with extended upticks to likely stall towards 110.83/111.10 zone (Fibo 38.2% / 50% retracement), before bears retake control.
Close below 110.14 (Fibo 76.4% of 108.80/114.49 rally) is needed for bearish signal with firm break below 110.00 handle to spark fresh downside and expose targets at 109.26 (15 June low) and 109.11 (07 June low) which guard key support at 108.80 (14 June low).
Alternative scenario requires firm break above 111.35 (Fibo 61.8%) to shift near-term focus higher.
Res: 110.51, 110.83, 111.10, 111.35
Sup: 110.14, 110.00, 109.26, 109.1
