The pair regained traction and moves higher on Wednesday, after previous day’s shallow consolidation was contained at 113.50 zone.
Firm bullish stance remains intact above broken key barriers at 113.30/18 (Fibo 61.8% of 118.66/104.63/weekly 200SMA) for extension towards targets at 114.73 (05 Nov 2017 high) and 115.35 (Fibo 76.4%).
Meanwhile, bulls might be delayed for extended consolidation as daily slow stochastic is overbought and momentum is weakening.
Extended downticks are expected to hold above 113.30/18 pivot to keep bullish bias.
Negative signal for deeper correction could be expected on close below weekly 200SMA.
Res: 114.06, 114.36, 114.50, 114.73
Sup: 113.52, 113.30, 113.18, 112.56
