The Aussie extended recovery from 0.7329 double-bottom where weekly cloud base contained broader bearish action.
The pair tested daily Tenkan-sen barrier at 0.7435 after strong bullish acceleration on Monday took out pivotal barriers at 0.7406/13 (falling 10SMA / Fibo 38.2% of 0.7554/0.7372 downleg).
Recovery needs to extend above daily Tenkan-sen and also break above next pivots at 0.7461/67 (falling 20SMA / Fibo 38.2% of 0.7554/0.7372 downleg / daily Kijun-sen) to generate stronger bullish signal and sideline risk of limited correction and fresh downside, as overall structure is bearish.
Close above those barriers would signal stronger recovery towards 0.7500+ zone.
Otherwise, risk of lower top and fresh bear-leg would remain in play while recovery stays limited under 0.7461/67 pivots.
Res: 0.7440, 0.7467, 0.7500, 0.7554
Sup: 0.7406, 0.7383, 0.7364, 0.7329
