The Aussie dollar extends higher on Tuesday after Monday’s recovery managed to close above a cluster of daily MA’s (between 0.7085 and 0.7101) and generated positive signal. Fresh extension higher cracks pivotal barriers at 0.7129/30 (Fibo 61.8% of 0.7168/0.7065 pullback/55SMA), helped by rising bullish momentum and renewed risk appetite, as well as RBA’s positive tone on the economy. Sustained break above 0.7130 would open way for test of key barriers at 0.7158/68 (100SMA/daily cloud top/21 Mar spike high). Converging 30/10SMA’s offer solid supports at 0.7106/01 which is expected to hold and keep fresh bulls in play.
Res: 0.7130, 0.7143, 0.7158, 0.7168
Sup: 0.7116, 0.7101, 0.7085, 0.7065
