Break above converged 100/200SMA’s would unmask key barriers at 112.13/20

The pair regains traction and probes through converged 100/200SMA’s (111.38) following double failure to clearly break below rising 20SMA.
Cracked moving average remains initial support (111.09) and underpins recovery.
Lift above 100/200SMA’s is needed to accelerate recovery and improve technical outlook, as daily momentum is flat and lacking stronger support.
Sustained break higher would expose key barriers at 112.13/20 (5 Mar high / Fibo 76.4% of 114.54/104.59 fall) regain of which would signal continuation of recovery from 114.59 (1 Mar spike low).
Caution on failure to close above 100/200SMA which would weaken near-term structure and risk fresh downside.

Res: 111.48; 111.85; 112.13; 112.20
Sup: 111.19; 111.09; 110.78; 110.64