The pair remains under strong pressure and eyes 110.00 support zone, after Wednesday’s recovery attempts were capped by weekly cloud top (111.36) and subsequent strong bearish acceleration turned near-term focus lower again.
Probes above daily Tenkan-sen (111.14) were short-lived, keeping it as strong resistance, as Wednesday’s daily candle with long upper shadow, heavily weighing on near-term action.
Strong bearish setup of daily studies maintains negative tone, however, hesitation ahead of pivotal 110.00 zone could be anticipated as slow stochastic is entering oversold territory.
Daily Tenkan-sen is expected to ideally cap, with Friday’s close being in focus for stronger signals.
Close below weekly cloud top will be seen as strong bearish signal.
Res: 110.71, 111.02, 111.14, 111.36
Sup: 110.25, 110.09, 109.91, 109.30
