Overbought conditions and weaker dollar signal correction

The pair holds in red at the start of the week and probes back below 200SMA, as dollar eased after US jobs data showed employment increased but wage growth lose momentum.
Overbought conditions suggest corrective action, as slow stochastic is about to emerge from overbought territory and momentum is breaking into negative zone, with bearish close today needed to complete reversal pattern on daily chart
Strong supports lay at 111.18/00 zone (a cluster of daily MA’s / Fibo 38.2% of 109.71/111.82) and 110.72 (top of thickening daily cloud) where corrective action should be ideally contained to prevent deeper pullback that would sideline bulls.

Res: 111.85; 112.02; 112.13; 112.60
Sup: 111.34; 111.18; 111.00; 110.75