Bears extend into third straight day and pressure key supports
The pair holds in red for the third day and extends weakness towards key supports at 105.30/28 (6 Aug trough / Fibo 61.8% of 104.18/107.04 upleg).
Fresh weakness accelerated after bulls repeatedly failed to clear 107.00 barrier and were trapped above falling 55DMA.
Daily studies show weakening momentum, stochastic in steep fall and MA’s turning to full bearish setup that supports bears.
Break and close below 105.30/28 pivots would add to negative signals and open way towards 104.86 (Fibo 76.4%).
Broken 20DMA and Fibo 38.2% (105.95) mark key resistance which is expected to cap extended upticks and keep bias with bears.
Res: 105.61; 105.95; 106.13; 106.35
Sup: 105.40; 105.28; 105.00; 104.86