Slobodan Drvenica
Windsor Brokers
The pair is holding in extended consolidation above key supports at 111.90/71 (daily cloud top / Fibo 38.2% of 107.31/114.73 / converged 100/200SMA’s), but upside attempts were so far limited.
Daily techs are bearishly aligned and expected to keep near-term focus at the downside while the price remains below 112.97 pivot (daily Tenkan-sen / Fibo 38.2% of 114.73/111.88 downleg).
Renewed attempts through 111.90/71 zone could trigger significant bearish acceleration on sustained break and expose supports at 111.02 and 110.15 (Fibo 50% and 61.8% retracement of 107.31/114.73 ascend).
Conversely, sustained break above 113.00 zone would ease existing downside pressure and signal further recovery of 114.73/111.88 pullback.
Res: 112.71; 112.97; 113.30; 113.64
Sup: 112.70; 111.90; 111.71; 111.46
The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.
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