Rising daily cloud base contained bear-leg from 113.02 (21 Feb lower top) at 111.90 for now, with near-term price action consolidating ahead of fresh attempts lower.
Bearish bias is supported by daily MA’s and Tenkan / Kijun-sen lines in bearish setup and upside attempts remain limited under pivotal 113.00 resistance zone (converging daily 10/20 SMA’s).
The pair is looking for firm break below daily cloud base (currently at 112.33), for extension towards key near-term supports at 111.60 zone and nearby top of thick weekly Ichimoku cloud at 111.36.
Conversely, immediate downside risk would be sidelined on sustained bounce above 113.00 trigger, but lift above 113.76 (21 Feb lower top) is needed to neutralize and shift near-term focus higher.
Res: 112.86, 113.00, 113.47, 113.76
Sup: 112.33, 111.90, 111.60, 111.36
