The pair ticks higher on Monday after two-day pullback from 107.01 top found footstep at 106.10 (20SMA / Fibo 38.2% of 104.63/107.01 upleg).
Monday’s range remains tight as recovery attempts were so far unable to clearly break above 30SMA (106.32) and generate firmer recovery signal.
Weak momentum studies and MA’s in mixed setup keep the downside vulnerable.
Risk of renewed attack at 106.10 pivot and end extension towards next trigger at 105.92 (10SMA) would remain in play while 30SMA caps.
Bullish scenario needs close above 30SMA to re-expose pivotal 107 barrier and signal stronger recovery on break.
Res: 106.40, 106.64, 107.01, 107.29
Sup: 106.10, 105.92, 105.53, 105.32
