Pivot (invalidation): 110.65
Our preference Long positions above 110.65 with targets at 111.05 & 111.25 in extension.
Alternative scenario Below 110.65 look for further downside with 110.35 & 110.10 as targets.
Comment Even though a continuation of the consolidation cannot be ruled out, its extent should be limited. The pair is supported by a rising trend line while challenging a key threshold at 111.