Bulls are holding in extended consolidation under pivotal Fibo barrier

The EURUSD edges lower in early Thursday’s trading, holding in extended consolidation under pivotal Fibo barrier at 1.1671 (38.2% of 1.1909/1.1534 bear-leg) which provided significant headwinds to recovery leg from 1.1524 (Oct 12/13 lows).
Near-term bias remains with bulls, but firm break of 1.1671 Fibo barrier is needed to confirm reversal signal on weekly chart (double rejection at weekly cloud base / 200WMA) and extend recovery towards 1.1712/16 (falling 55DMA / 50% retracement of 1.1909/1.1524).
Rising 10DMA (1.1597) is approaching 20DMA (1.1608) in attempt to form a bull-cross and further support the advance, with 1.1600 zone offering solid support which should contain dips.

Res: 1.1671; 1.1695; 1.1716; 1.1755
Sup: 1.1626; 1.1608; 1.1597; 1.1571