US ADP report on private sector employment, followed by ISM non-manufacturing PMI will be closely watched for further impetus.
Fedspeaks will also be watched for fresh insights on the US interest rates outlook. A more constructive outlook on the Fed's tightening path will keep the USD buoyed.
Technical indicators on are still , but 'Bearish Divergence' on and Stochs raises scope for downside.
Next major resistance seen at 114.32 (61.8% Fib retracement of 118.662 to 107.318 rally).
200-DMA at 111.955 is strong support on the downside, weakness likely on break below.
Support levels - 112, 111.955 (200-DMA), 111.65 (38.2% Fib retracement of 118.662 to 107.318 rally)
Resistance levels - 113, 113.25 (Sept 27th high), 114, 114.32 (61.8% Fib)
Good to go short on decisive break below 5-DMA, target 111.95/ 111.65/ 111