The 200-hour simple moving average has provided enough support for a surge to start. Namely, the rate is once again approaching the resistance zone at 113.88/113.97.
A passing of the high level zone at 113.88/113.97 might result in a surge to the weekly R2 simple pivot point at 114.53. However, note that the 114.00 and 114.50 levels might act as resistance.
Meanwhile, a decline of the pair is highly likely going to find support in the weekly R1 simple pivot point at 113.69, the 50 and 100-hour simple moving averages near 113.60 and the 200-hour SMA at 113.30.
