The pair accelerated higher in during mid-European trading to hit new 2-week high in early US session on Tuesday. Firm break above key Fibo barrier at 110.31 (38.2% of 112.40/109.02 descend) signaled bullish continuation as fresh rally penetrated rising daily cloud (base lays at 110.43) and cracked 100SMA (110.50), pressuring 20SMA (110.60) and Fibo 50% barrier (110.71). Fresh risk mode on US delay on Huawei restrictions inflate the greenback, as bulls require confirmation on daily close above broken Fibo barrier at 110.31. Extension through 110.60/71 barriers would expose pivotal points at 111.10 / 18 (Fibo 61.8%/daily cloud top. North-heading daily indicators and 5/10MA’s in bullish setup and created bull-cross, support scenario, however, overbought stochastic may slow bulls.

Res: 110.60; 110.71; 111.10; 111.18
Sup: 110.31; 110.01; 109.87; 109.80

- advertisement -


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.