Fresh acceleration higher on Monday cracked 113.00 barrier and showing scope for retest of last week’s peaks at 113.20/25 and further upside.
Overall firm bullish structure remains intact after corrective dips were contained by daily Tenkan-sen/rising 10SMA.
Renewed attempts higher need close above 112.99 (50% retracement of 118.66/107.31 descend) for bullish signal, as sustained break above 113.20/25 would spark fresh bullish acceleration towards 114.00 barrier and possible extension higher.
Near-term action remains strongly underpinned by 10/200 SMA Golden-cross, with stops below 200SMA (112.00).
Res: 113.25, 113.57, 114.00, 114.49
Sup: 112.78, 112.44, 112.29, 112.29
