The Aussie regained traction and retested recovery high at 0.7467 after Thursday’s trading ended in red on strong upside rejection.
Higher prices of metals support AUD, however, fresh rally faces strong headwinds at 0.7470 zone (Fibo 61.8% of 0.7554/0.7327 / 55SMA) and 0.7500 (Fibo 76.4% / weekly cloud top.
Risk of repeated rejection here comes from bearishly aligned daily studies, with the pair expected to spend some time in consolidation between 10SMA support (0.7397) and 0.7470 resistance.
Fresh direction will be established on break of either boundary.
Res: 0.7467, 0.7500, 0.7544, 0.7554
Sup: 0.7424, 0.7397, 0.7387, 0.7364
