The Aussie remains within short-term congestion, shaped in three consecutive weekly long-legged Dojis, unable so far to clearly break higher, despite repeated probes above pivotal 0.7700 barrier. However, overall bullish structure remains intact, with price action being supported by rising 20SMA (currently at 0.7659) that keep alive hopes of renewed attack at recent highs at 0.7730/39 and possible stretch toward target at 0.7776 (08 Nov high). The pair is awaiting Wednesday’s release of Australian Q4 GDP data, which could boost the pair on release at/above forecasts. Meantime, extended consolidation is expected to hold above 20SMA and prevent deeper dips that would expose next strong support at 0.7600 higher base.
Res: 0.7687, 0.7700, 0.7739, 0.7758
Sup: 0.7659, 0.7624, 0.7600, 0.7575
