The pair extends recovery above 109.38 (Fibo 61.8% of 110.66/107.31 downleg) on Tuesday, following strong bullish acceleration on Monday (the biggest one-day gain since 03 July) as dollar rallied on relief after eased tensions on North Korea and lower than expected impact from Hurricane Irma.
Studies show more room at the upside, with strong barrier at 110.00 zone (weekly Tenkan-sen / Fibo 38.2% of 114.49/107.31 descend), expected to ideally cap, as overall picture is bearish.
Conversely, sustained break above 110.00 would generate strong bullish signal for recovery extension towards key near-term barrier at 110.66 (31 Aug high) and sideline near-term bears.
Res: 110.00, 110.66, 110.90, 111.48
Sup: 109.23, 108.99, 108.60, 108.12
