The Australian dollar recovered as last month’s jobless rate fell to 5.5%. The pair is currently in an extended consolidation above the key daily support at 0.7690.
Buyers’ failure to hold could send the Aussie back to 0.7600 which is critical to the integrity of the uptrend. 0.7815 acts as a gatekeeper after a rebound stopped short of pushing higher.
Only by clearing this resistance would buyers commit more chips to the table. A bullish breakout may resume the rally with 0.7890 as the first target.
