The pair hit fresh high at 0.7962 on Thursday, in extension of Wednesday’s strong rally that formed higher base at 0.7810 zone. Release of upbeat Australian jobs data (27.9K new jobs created in July vs 20.0K f/c and Unemployment in July coming along with expectations at 5.6% vs 5.7% in June) additionally boosted Aussie dollar which was lifted by greenback’s fall after FOMC minutes. Strong bullish acceleration suggests corrective phase from 0.8065 peak might be over. Fresh bulls need clear break above pivotal barrier at 0.7967 (Fibo 61.8% of 0.8065/0.7807 pullback) to confirm reversal and open way for attack at psychological 0.8000 barrier and key resistance at 0.8065 (23 July peak). Broken 20SMA offers immediate support at 0.7927, while daily Tenkan-sen at 0.7885 should contain extended dips.
Res: 0.7967, 0.8000, 0.8042, 0.8065
Sup: 0.7927, 0.7895, 0.7885, 0.7870
