The Aussie regained traction and tested 0.7600 barrier on yesterday’s bullish acceleration.
Repeated downside rejections above key 200SMA support and subsequent bounce sidelined immediate downside risk.
However, the pair remains without clear direction while holding within 0.7510/0.7690 range.
Near-term studies improved and along with bullish daily technicals, turned near-term focus higher.
Firm break above 0.7600 zone is needed to signal bullish continuation and open immediate target at 0.7630 (Fibo 76.4% of 0.7776/0.7158 descend).
Long bullish monthly candle that was formed in January, supports bullish scenario, with freshly formed 20/200SMA’s Golden Cross, underpinning the action.
Res: 0.7607, 0.7630, 0.7700, 0.7776
Sup: 0.7558, 0.7510, 0.7497, 0.7467
