Strong rally extends into third consecutive day and hits fresh two-week highs on Thursday, approaching key near-term barriers at 111.00 zone, as daily cloud twist continues to attract. Firmly bullish studies on lower timeframes and improving daily technicals are supportive for final push towards a cluster of barriers at 111.00 zone (former tops of 04/16 Aug/converged 100/55SMA’s) above which a number of stops is parked that may trigger further acceleration higher on firm break. Meanwhile, bulls may show signs of hesitation at 111.00 barriers as slow stochastic is overbought on daily chart and suggests easing, but without firmer signals so far. Broken 30SMA offers initial support at 110.13, ahead of 20SMA at 109.77.
Res: 110.66, 110.94, 111.18, 111.65
Sup: 110.13, 109.77, 109.53, 109.18
