Bulls crack key barriers but without break for now
The pair extends advance into fifth straight day and cracks pivotal barriers at 108.42/47 (50% retracement of 112.40/104.44 / 18/19 Sep double-top).
Bulls face strong headwinds here and so far unable to break higher, with further hesitation not ruled out as daily stochastic is overbought and bullish momentum is fading.
Overall outlook remains positive, with dips seen as positioning for fresh upside and expected to hold above 10DMA (107.85).
Firm break above 108.47 would expose targets at 109.15/36 (200DMA / Fibo 61.8% of 112.40/104.44).
Caution on return and close below 10DMA which may put bulls on hold.
Res: 108.47; 108.89; 109.15; 109.36
Sup: 108.04; 107.85; 107.67; 107.53