The Euro is consolidating under new multi-month high on Friday, after advancing 0.9% on Thursday.
Overall picture remains bullish as the pair is on track for the biggest weekly rally since the second week of November, although some profit taking should be anticipated.
Overbought daily studies contribute to the scenario, with limited dips expected to offer better buying opportunities for fresh acceleration higher, as the Euro received fresh support from weaker US inflation which signals that the Fed would further slow the pace of rate hikes.
Solid supports at 1.0636/10 (weekly low / broken Fibo 38.2% of 1.2349/0.9535) should ideally contain, with extended dips to find ground above the base of weekly cloud base (1.0545) to keep bulls intact.
Initial barriers lay at 1.0930/42 (weekly cloud top / 50% of 1.2349/0.9535), violation of which to expose psychological 1.10 resistance and open way for stronger bullish acceleration on break
Res:Â 1.0900; 1.0942; 1.1000; 1.1075.
Sup:Â 1.0736; 1.0689; 1.0636; 1.0610.
