The Euro remains biased higher and eyes immediate target at 1.0827 (02 Feb high/Fibo 38.2% of larger 1.1614/1.0339, May 2016 / Jan 2017 descend), with extension towards 200SMA (1.0884) seen on break. The pair hit new high at 1.0823 on Wednesday, coming just ticks ahead of its initial target, but Thursday’s action shows signs of further easing, after previous day ended in red. This suggests further consolidation before fresh bulls emerge, with dips expected to be contained by hourly cloud base (1.0768) to keep structure intact. Otherwise, signals of deeper correction could be expected on break below hourly cloud that would expose pivotal supports at 1.0700 zone (rising Tenkan-sen/Fibo 38.2% of 1.0493/1.0823 upleg). The pair will be also focusing events today: speech of Fed Chief Yellen, House vote for healthcare bill and releases from US jobs and housing sector, for stronger signals.
Res: 1.0803, 1.0827, 1.0884, 1.0931
Sup: 1.0780, 1.0768, 1.0719, 1.0697
