The Aussie hit new eight-week high on Thursday, in extension of previous day’s 1.3% rally, sparked dovish Fed that pushed the US dollar lower across the board. Better than expected China’s PMI data today (Jan Manufacturing PMI 49.5 vs 49.3 f/c / Non-Manufacturing Jan 54.7 vs 53.9 f/c) added to positive tone. Bullish daily techs underpin for final push towards strong barrier at 0.7296 (200SMA), where bulls may run out of steam as slow stochastic is breaking into overbought territory. Broken Fibo barrier at 0.7231 (76.4% of 0.7393/0.6706) marks initial support which guards more significant daily cloud top (0.7205) where extended corrective dips should find ground to keep bulls in play.
Res: 0.7277, 0.7296, 0.7355, 0.7393
Sup: 0.7242, 0.7231, 0.7205, 0.7176
