Strong bullish acceleration on Tuesday extended recovery leg from 0.9699 (02 Jan low) and penetrated daily cloud (cloud base lies at 0.9813).
Increasing risk appetite on brighter US rate outlook and improving environment on lift above daily Tenkan-sen (0.9801), support the advance.
Narrowing daily cloud which twists next week also attracts as 100/200SMA bull-cross (formed on 04 Jan) underpins the action.
Bulls face immediate barrier at 0.9832 (Fibo 61.8% of 0.9915/0.9699 bear-leg / falling 20SMA), break of which would open cloud top (0.9863) for test.
Initial support lies at 0.9800, followed by pivotal supports at 0.9780 zone, which are expected to hold and keep the downside protected.
Res: 0.9832, 0.9863, 0.9881, 0.9915
Sup: 0.9800, 0.9780, 0.9750, 0.9732
