The pair is holding in narrow consolidation in early Friday’s trading, taking a break after strong fall in past three days.
Sustained break here would spark fresh bearish acceleration towards targets at 110.15/00 (Fibo 61.8% of 107.31/114.73/psychological support).
Firm bearish structure of daily techs supports further losses, but oversold slow stochastic warns of consolidation preceding fresh weakness.
US data due later today are in focus.
Res: 111.43, 111.68, 111.87, 112.00
Sup: 111.04, 110.83, 110.15, 110.00
