The pair remains directionless and within narrow range on Monday, on track to mark another daily action by tight Doji.
Bulls continue to lose momentum since double rejection (13/14 Feb) on approach to 200SMA which sees increasing downside risk.
Also, the greenback is weighed by further optimistic tones from US/China trade talks.
The near-term action pressures pivotal support, provided by support line of triangular consolidation (110.54) break of which would generate initial bearish signal and expose lower pivot at 110.22 (15 Feb consolidation low/broken Fibo 61.8% of 113.70/104.59) and confirm pullback on break. Alternative scenario would require break through triangle resistance and lift above 111.12 (14 Feb high) to re-expose key 200SMA barrier (111.30).
Res: 110.90, 111.12, 111.30, 111.55
Sup: 110.54, 110.22, 109.89, 109.64
