Despite dollar’s retreat in Asia, the pair has not been able to drop/sustain below 100.71 (50% of 2011 low – 2015 high). This adds credence to the pair’s rebound from the trend line (red) support on Wednesday and opens doors for a move higher to 101.40 today.
A break above the Asian session high of 101.40 could yield a rise to 101.78 (5-DMA).
On the lower side, only a day end close below 100.19 would signal the retreat from post Brexit high of 103.40 has resumed.