The pair is consolidating above important support at 112.00 (15 Dec low) on Tuesday after steep bearish acceleration in past three days found footstep here.
Support is reinforced by Fibo 61.8% of 110.83/113.74 rally and 100SMA and may hold bears for some time for extended consolidation.
Broken sideways-moving 30SMA offers solid resistance at 112.53, which is expected to ideally cap upticks, with the base of thickening daily cloud, laying at this zone and reinforcing resistance.
Sustained break below 112.00 handle is needed to complete failure swing pattern on daily chart and spark fresh weakness towards 200SMA at 111.64 and Fibo 76.4% of 110.83/113.74 at 111.52.
Res: 112.39, 112.53, 112.79, 112.84
Sup: 112.17, 112.00, 111.64, 111.52
