The pair extends recovery to new two-week high at 109.59 on Friday after bullish signal was generated on Thursday’s close above 109.15 pivot (daily Kijun-sen / 50% retracement of 113.70/104.59).
The greenback was boosted by better than expected US jobless claims data, despite US government’s shutdown and improving daily techs.
Bulls pressure weekly cloud base (109.68) and eye psychological 110 barrier, as the pair is on track for strong bullish weekly close and also formation of reversal pattern on weekly chart.
Huge option expiries today add to market signals, but could drive the price in either direction.
Weekly close above broken 109.15 barrier is needed to keep bullish bias.
Res: 109.68, 110.00, 110.26, 110.57
Sup: 109.15, 108.71, 108.07, 107.76
