Cross attempts to break out of two-week range and generate initial reversal signal

The cross rose on Tuesday as Euro advanced after weaker than expected US inflation data further deflated dollar.
Fresh strength pressures the upper boundary of two-week range, reinforced by 55DMA (0.8824), with clear break here needed to generate initial signal of possible end of sideways mode.
Extension through 0.8866 (Fibo 23.6% of 0.9498/0.8670) and 0.8890 (base of thick daily cloud) would add to reversal signals, which require break of 0.8987 (Fibo 38.2%) and 0.9024 (daily cloud top) for confirmation.
Rising bullish momentum, indicators pointing up and MA’s turning to bullish setup on daily chart, would help fresh bulls.
Caution on failure to clear 55DMA that would signal prolonged directionless trading.

Res: 0.8866; 0.8890; 0.8987; 0.9024
Sup: 0.8800; 0.8754; 0.8719; 0.8690