The Australian dollar tested 20SMA support at 0.7981 on Friday’s renewed attempt through 0.80 support zone, after Thursday’s dip to 0.7987 was short-lived. Near-term structure is negative, as the pair is holding in red for the fifth consecutive day and favoring further downside. South-heading daily RSI is currently at 55 zone a showing a plenty of room for extension of corrective pullback from 0.8135 peak. Close below cracked support at 0.8010 (Fibo 38.2% of 0.7807/0.8135 upleg) will be initial bearish signal while close below 20SMA (0.7981) is needed to confirm bearish scenario and open way towards 0.7918 (rising 30SMA) and 0.7892 (Fibo 38.2% of 0.7500/0.8135 rally). Broken 10SMA now acts as solid resistance at 0.8045 and expected to keep the upside protected and maintain negative near-term bias. US NFP data are eyed for fresh signals.
Res: 0.8010, 0.8045, 0.8067, 0.8100
Sup: 0.7971, 0.7932, 0.7918, 0.7892
 will be initial bearish signal while close below 20SMA (0.7981) is needed to confirm bearish scenario and open way towards 0.7918 (rising 30SMA) and 0.7892 (Fibo 38.2% of 0.7500/0.8135 rally). Broken 10SMA now acts as solid resistance at 0.8045 and expected to keep the upside protected and maintain negative near-term bias. US NFP data are eyed for fresh signals.){kind=link}