The pair ended Asian trading in red after threading water for the most of the session. Bias remain bearish, keeping key supports at 108.77/70 (200SMA/Thursday’s low) under pressure. Firm break here would trigger fresh acceleration towards 107.84 (Fibo 61.8% of 101.17/118.65 rally). Bearish studies maintain pressure, with thick hourly cloud (spanned between 109.12/71) heavily weighing on near-term action and guarding upper pivot at 110.00 zone (former base/daily Tenkan-sen). Extended holiday weekend suggests the pair would remain range-bound, however, geopolitical tensions and release of US CPI and Retail Sales data may affect the pair during thin-volumes holiday trading.
Res: 109.12; 109.71; 110.00; 110.76
Sup: 108.77; 108.70; 108.53; 107.84