The Aussie rallies further on Wednesday after Outside Day pattern was formed on Tuesday, signaling reversal. Extended bullish acceleration today broke above pivotal barrier at 0.8032 (daily Tenkan-sen) which repeatedly capped upside attempts and dented next important resistance at 0.8054 (Fibo 61.8% of 0.8124/0.7939 pullback. With daily studies returning to full bullish setup, near-term focus turns higher and close above broken Tenkan-sen is needed for stronger bullish signal, while close above Fibo 61.8% barrier would confirm scenario and re-expose recent peak at 0.8124. Fed’s tone however, is expected to have the key influence on pair’s near-term action.
Res: 0.8057, 0.8081, 0.8124, 0.8164
Sup: 0.8032, 0.8010, 0.7995, 0.7970
