The pair is holding in extended consolidation above key supports at 111.90/71 (daily cloud top / Fibo 38.2% of 107.31/114.73 / converged 100/200SMA’s), but upside attempts were so far limited.
Daily techs are bearishly aligned and expected to keep near-term focus at the downside while the price remains below 112.97 pivot (daily Tenkan-sen / Fibo 38.2% of 114.73/111.88 downleg).
Renewed attempts through 111.90/71 zone could trigger significant bearish acceleration on sustained break and expose supports at 111.02 and 110.15 (Fibo 50% and 61.8% retracement of 107.31/114.73 ascend).
Conversely, sustained break above 113.00 zone would ease existing downside pressure and signal further recovery of 114.73/111.88 pullback.
Res: 112.71, 112.97, 113.30, 113.64
Sup: 112.70, 111.90, 111.71, 111.46
