The Aussie extended weakness deep in the daily cloud on strong four-day bearish acceleration from 0.7677 (30 Mar lower top) that hit low at 0.7543 but so far failing to close below pivot at 0.7548 (200SMA) and generate another bearish signal. The pair is riding on the third wave of five-wave cycle from 0.7747 high that is eyeing target at 0.7528 (Fibonacci 100% expansion) and could extend towards 0.7472 (FE 138.2%) on break below other strong supports at 0.7507 (100SMA) and 0.7489 (09 Mar low). Daily studies are negative and favor further weakness, as formation of daily Tenkan-sen/Kijun-sen bear cross maintains bearish pressure. Consolidation above 200SMA could be anticipated, with initial barrier at 0.7585 (session high) and extended upticks expected to hold below daily Tenkan-sen (0.7610).
Res: 0.7585, 0.7610, 0.7618, 0.7638
Sup: 0.7548, 0.7528, 0.7507, 0.7489
