Bulls in control above 200DMA, President Trump’s trade speech in focus
The pair edged higher on Tuesday after 200DMA (109.01) repeatedly limited dips, on track for another attack at cracked key Fibo barrier at 109.36 (61.8% of 112.40/104.44) which so far resisted two attacks.
Daily techs are mixed (momentum is flat, stochastic heads south, while MA’s are in bullish setup) and traders await President Trump’s speech on country’s trade policy for fresh direction signals.
Overall sentiment remains positive as risk mode persists and bulls keep in focus barriers at 109.36 (Fibo) and 109.48 (last Thu/Fri highs) violation of which would open psychological 110 barrier and risk stronger bullish acceleration on break.
Conversely, loss of 200DMA support would weaken near-term structure and shift focus lower.
Res: 109.36; 109.48; 110.00; 110.52
Sup: 109.01; 108.84; 108.64; 108.30