Yesterday’s fresh attempt above 0.7700 barrier was positive signal, as price continues to hold at the upper side of 0.7600/0.7700 congestion.
Overnight’s dip on weaker than expected Australian data was so far contained, with 0.7700 pivot being attacked again on bounce.
Bullishly aligned near-term studies are supportive, along with daily MA’s in firm bullish setup.
Rising daily 10SMA offers immediate support at 0.7678, followed by 20SMA that underpins the action and currently lies at 0.7645.
Caution on break of latter, as RSI / slow stochastic bearish divergence continues to weigh.
Stronger signal of pullback seen on break below 0.7600 handle that would risk fresh easing towards 200SMA (0.7509).
Sustained break above 0.7700 barrier and fresh high at 0.7730 (16 Feb high), to signal bullish continuation and expose key short-term barrier at 0.7776 (08 Nov peak).
Res: 0.7712, 0.7730, 0.7755, 0.7776
Sup: 0.7663, 0.7645, 0.7600, 0.7504
