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- Recovery faces headwinds but improved sentiment encourages for further advance
- Limited consolidation is expected to precede fresh bearish extension
- Slight bullish bias after downbeat Japanese GDP
- Bulls remain in play after last week’s 1.2% advance
- Break below 10DMA would signal end of recovery phase and reversal
- Directionless action between 109.57 and 110
- Bears may extend towards 1.07 zone after limited consolidation
- Consolidation may precede fresh advance as appointment of new fin min boosted the sentiment
- Bears extend to the lowest level since 2015
- Strong bullish acceleration surged through key barriers
