Strong bullish signals are generating on Monday’s fresh acceleration above weekly cloud top (above which the pair closed last week) and probe above next pivots at 111.80/87 (weekly Tenkan-sen/daily 55SMA). Broader dollar bulls received boost on lift above weekly cloud and may accelerate through next key barrier at 112.18 (31 Mar high) for further retracement of larger 115.49/108.11 descend. Repeated close above weekly cloud will be seen as confirmation of bullish continuation, however, focus is on the tone of Fed’s meeting that ends on Wednesday that is expected to give fresh direction signals for the greenback.
Res: 112.18, 112.67, 113.00, 113.36
Sup: 111.36, 111.19, 110.85, 110.44
