The Aussie dollar maintains overall strong bullish structure following break above pivotal barriers at 0.7560 zone (multi-day congestion tops / 100SMA).
However, fresh bullish extension was so far unable to sustain break above 0.7600 barrier and failed to close above next pivot at 0.7588 (Fibo 61.8% of 0.7749/0.7328 descend) on repeated attempts.
Daily candles with long upper wicks that were left on Wed/Thu signal strong hesitation, as rallies stalled at 0.7635/31.
Bullish technicals on daily chart remain supportive, as the pair is in fresh attempt above 0.7600. Close above 0.7588 Fibo barrier is needed to generate bullish signal for extension towards targets at 0.7650 (Fibo 76.4%) and 0.7679 (30 Mar high).The pair is on track for the second strong bullish weekly close.
Broken 100SMA marks strong support which is expected to remain intact and keep bulls in play.
Res: 0.7635; 0.7650; 0.7679; 0.7700
Sup: 0.7572; 0.7556; 0.7546; 0.7532
