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Recovery Extension Cracks Strong 20SMA Barrier As Aussie Receives Fresh Boost From Weaker Greenback

Reversal from 0.7202 (15 Aug low) extends into fourth straight day and probed through important barrier at 0.7357 (falling 20SMA / Fibo 61.8% of 0.7453/0.7202 bear-leg) but so far without clear break higher.

Further hesitation here could be expected, with extended consolidation and corrective dips, signaled by overbought slow stochastic.

Bullish sentiment and improving daily techs support further advance, with dips expected to offer better buying opportunities.

Close above 0.7357 is needed to confirm bullish continuation, while broken 10SMA (0.7310) is expected to hold and keep bulls in play.

Res: 0.7357, 0.7393, 0.7406, 0.7453
Sup: 0.7333, 0.7295, 0.7252, 0.7202

Windsor Brokers Ltd
Windsor Brokers Ltdhttp://www.windsorbrokers.com/
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