The pair moved lower on fresh risk appetite after trade war was put on hold, with fresh weakness being so far contained by pivotal support at 113.37 (Fibo 38.2% of 112.30/114.03, reinforced by rising daily Tenkan-sen). Daily MA’s in bullish setup maintain positive outlook, which requires dips to hold above 113.30/40 support zone, but weak momentum could be limiting factor for fresh advance. Loss of 113.37 handle would risk further easing towards supports at 113.15 (rising 30SMA) and 113.02 (rising 55SMA), close below which will be bearish signal. On the other side, hopes of fresh recovery would remain alive above 113.37 and would look for test of pivotal barrier at 114.03 (28 Nov high) break of which could signal continuation of bull-leg from 112.30 (20 Nov low).
Res: 113.71, 113.82, 114.03, 114.20
Sup: 113.37, 113.15, 113.02, 112.66
