“¢ Acceptance above 109.00-109.10 region seems to have triggered some short-covering spike.
“¢ Sustained move beyond 200-hour SMA to pave the way for an extension of the bullish move.
“¢ The US NFP report next key event risk; trade headlines to also play a key role in trading today.
Spot rate: 109.41
Trend: Bullish
Support 1: 109.73 (R3 daily pivot-point)
Support 2: 110.00 (psychological round figure mark)
Support 3: 110.21 (200-day SMA)
Resistance 1: 109.10 (daily pivot-point R1 resistance break-point)
Resistance 2: 108.93 (100-hour SMA)
Resistance 3: 108.46 (S1 daily pivot point)
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