The pair remains directionless within 113.53/114.45 range as upside attempts off higher base at 113.65 (lows of past three days) repeatedly failed to sustain break above 114.00 barrier and eventually close above 114.33 pivot (Fibo 61.8% of 118.66/107.31 descend).
Prolonged consolidation is seen as likely near-term scenario before broader bulls resume towards targets at 115.00 /50.
Bullish daily studies support the notion, with extended dips required to hold above rising 20SMA (currently at 113.33) to keep bulls in play.
Otherwise, deeper pullback could be anticipated after repeated upside rejections above 114.00, with scenario being supported by reversal of slow stochastic from overbought zone on weekly chart.
Res: 114.02, 114.45, 114.73, 115.00
Sup: 113.65, 113.53, 113.33, 112.95
