The pair stands at the back foot in early Monday’s trading and holding in the lower side of multi-day 109.05/99 range, after Friday’s attack at range top was rejected again and capped by falling 30SMA. No clear direction signal seen while the pair holds in extended congestion, with mixed setup of daily studies, adding to neutral mode. Break below range floor would initiate bearish scenario and risk dip towards 108.07/107.76 (broken Fibo 38.2% of 113.70/104.59 / 10 Jan trough). Conversely, initial bullish signal could be expected on break above range ceiling and Fibo barrier at 110.22 (Fibo 61.8% of 113.70/104.59) that would open way towards 200SMA (111.23).
Res: 109.57; 110.00; 110.22; 110.47
Sup: 109.26; 109.05; 108.60; 108.07
