Bulls consolidate under key Fibo barrier
The cross is pausing under key Fibo barrier at 136.69 (61.8% of 139.73/131.76) after risk-inspired rally in past three days hit new five-week high.
Fading risk appetite over rising US-China tensions may put bulls on hold as traders look to take profit from three-day 1.4% advance.
Overbought daily stochastic and south-turning momentum add to possibility of pullback, which would require dip and close below broken Fibo 50% level at 135.75, to generate initial negative signal.
On the other side, bullish bias is expected to remain intact while consolidation holds above 136.69 pivot, with break here to signal bullish continuation and expose 200DMA (137.58).
Res: 136.69; 137.00; 137.58; 137.85
Sup: 135.91; 135.75; 135.28; 135.24