Aussie dollar extends yesterday’s rally and is testing strong resistance at 0.7383 (Fibo 61.8% of 0.7523/0.7158 downleg), after fresh bulls broke above initial barrier at 0.7340 (daily Kijun-sen).
Daily studies are gaining traction and support further recovery. Break above 0.7383 barrier which is holding for now, would open next hurdle at 0.7394 (Fibo 38.2% of larger 0.7776/0.7158 descend) and 0.7424 (falling 55SMA in extension.
Look for consolidation above broken Kijun-sen line (0.7340), before bulls resume.
Conversely return below 0.7340 would weaken n/t structure and signal false break above three-day congestion.
Res: 0.7383; 0.7394; 0.7424; 0.7436
Sup: 0.7340; 0.7323; 0.7286; 0.7258
Interested in AUDUSD technicals? Check out the key levels
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