The pair surged after strong US jobs data and tested strong resistance at 111.00, provided by daily Tenkan-sen line, below which recovery attempts in past two days were capped.
Fresh acceleration emerged from 109.90 zone, where attempts to extend larger bears were repeatedly contained.
This proves strong supports at 110.00 zone and fresh acceleration higher suggests further delay of bears from 114.49 high.
The greenback regained bullish momentum after US jobs data, with fresh near-term bulls being also attracted by daily cloud twist.
Initial bullish signal could be expected on today’s close in bullish outside day pattern, with close above daily Tenkan-sen to reinforce positive stance.
Lift above thin daily cloud which twists on Monday, as well as converged daily 100/55SMA’s would generate stronger bullish signal for further retracement of $114.49/109.84 descend.
Conversely, repeated close below daily Tenkan-sen would signal prolonged consolidation.
Res: 111.00; 111.38; 111.51; 111.65
Sup: 110.28; 110.00; 109.84; 109.62
