The pair regains traction after shallow correction to 3.90 was contained by rising 10SMA. Fresh bullish acceleration completes Doji reversal pattern on daily chart and turns focus towards new record high at 3.9814, posted this week.
The notion is supported by price being on track for strong bullish weekly close.
Bulls eye psychological 4.00 barrier, with extension higher to look for test of Fibo projection at 4.0720.
Ascending 10SMA (currently at 3.0924) is expected to contain dips and keep bulls ibn play.
Res: 3.9540, 3.9814, 4.0000, 4.0720
Sup: 3.9024, 3.8970, 3.8770, 3.8448
