As long as price is above 108.36, our preferred count is that wave C of Y (within the W-X-Y from 95.72) is underway towards 116-118 (these are measurements that we discuss in more detail in the morning technicals), which the interest rate outlook favors as well.
Short term, 109.23/34 should provide support if needed. This is a Fibo confluence / daily pivot support level. The 200 day SMA at 108.90 may provide support as well.