The pair holds in choppy sideways mode for the third straight day, with the downside being contained by double Fibo supports at 108.83/76 (38.2% of 106.88/110.03 and 23.6% of 104.63/110.03 rally), reinforced by 100SMA, while 10SMA caps (currently at 109.31).
Monday’s long-legged Doji confirmed indecision.
Daily techs are mixed and fresh direction signals could be expected on break of either side.
Loss of 108.83/64 pivots would expose rising 20SMA (108.42) and risk extension towards strong supports at 108 zone (double Fibo support / daily cloud top / rising 30SMA, which lay between 108.08 and 107.85.
Conversely, lift and close above 10SMA would signal formation of higher base and turn near-term focus towards cracked psychological 110 barrier and 200SMA (110.16).
Res: 109.13, 109.31, 109.88, 110.03
Sup: 108.76, 108.63, 108.42, 108.08
