Bullish signal on eventual close above 200SMA
The pair regains traction on Thursday and probes above 200SMA, which capped narrow-range action in past three days.
With downside being protected by rising 20SMA, bulls look for eventual break and close above 200SMA that would generate strong bullish signal for extension towards next key barriers at 112.13/20 (2019 high / Fibo 76.4% of 114.54/104.59) and possible acceleration to 113+ zone on break.
Broken 200SMA now offers initial support (111.41), guarding lower pivot at 111.16 (20SMA).
Res: 111.73; 111.85; 112.20; 112.60
Sup: 111.41; 111.16; 110.81; 110.35