The Euro traded within narrow range in Asia on Friday, holding in the middle of daily cloud. Easing concerns about political situation in Germany could be supportive for the single currency, along with bullish tech. Strong rally in past two days eyes key barriers at 1.1877/86 (daily cloud top/Fibo 61.8% of 1.2092/1.1553 descend) with sustained break here needed to generate fresh bullish signal. The pair is on track for the third consecutive bullish weekly close, which supports scenario of bullish continuation. Base of daily cloud offers solid support at 1.1825, with extended dips to be contained by rising 10SMA (1.1770) which is forming bull cross with 55SMA. Only close below the latter would sideline bullish scenario and signal further easing.
Res: 1.1859, 1.1877, 1.1886, 1.1936
Sup: 1.1836, 1.1825, 1.1813, 1.1770
