Bulls look for 105+ advance

The pair maintains positive tone on Monday and consolidating under new 2 ½ month high (104.93).
Friday’s rally (up 0.5%, the biggest one-day advance since Jan 7) and close above thick daily cloud generated strong bullish signal, together with bullish weekly close (up 0.93% for the week) and 1.6% monthly advance which also formed bullish engulfing pattern on monthly chart and signaling reversal.
Bulls faced headwinds from Fibo barrier at 104.94 (76.4% retracement of 105.67/102.59) but remain fueled with strong bullish momentum on daily chart, suggesting that consolidation is to precede final push through 105 and extension towards key barriers at 105.63/67 (200DMA / Nov 11 high).
Strong supports at 104.49/13 (broken Fibo 61.8% / 100DMA) should keep the downside protected.

Res: 105.00; 105.36; 105.65; 106.10
Sup: 104.60; 104.43; 104.30; 104.13